Hemp :: essays research papers

Hemp      In the whole world, there has never been a plant very as astounding as Cannabis Sativa. Being the world’s just sustainable asset equipped for comprehending huge numbers of it’s natural, mental, and financial issues, it is of nothing unexpected that the plant has had a serious effect in the revelation of the New World. Cannabis Sativa, otherwise called; Hemp, cannabis hemp, Indian (India) hemp, genuine hemp, muggles, weed, pot, maryjane, reefer, grass, ganja, bhang, "the kind," dagga, and herb turned into a perfect plant to develop as a result of its many fine qualities. Contingent upon the way of life, It’s leaves and bloom tops were the main, second, or third generally significant and most utilized prescriptions for at any rate 66% of the world’s individuals for in any event 3,000 years. Cannabis hemp is by a wide margin, the most grounded, generally tough, longest enduring characteristic delicate fiber, and the universes most exceptional plant family on earth. Since it is Dioecious, having male, female and now and again androgynous characteristics, it is anything but difficult to develop and develop. This tall, woody, herbaceous yearly, coming to somewhere in the range of 12 to 20 feet in a single short developing season utilizes the sun all the more proficiently that some other plant on earth. It very well may be developed in any atmosphere or soil condition on Earth, and is a head sustainable regular asset. Numerous nations found the plant engaging on account of it’s capacities to thrive in outrageous warmth. The Arabs found that the clingy goo, or Hashish, that secured the blossoms and leaves was a characteristic protectant against the sun, holding in dampness and repulsing harming heat. It’s capacity to get by in temperatures of 100 degrees Fahrenheit made it perfect for large scale manufacturing in the New World. Also that it needs no synthetic substances to develop and has not many characteristic foes. The Hemp plant was at first developed for it’s primary two characteristics, it’s strength and it’s valuable strands. Until the 1820’s in America, 80 percent everything being equal and textures utilized for attire, tents, bed sheets, and materials were made basically from the filaments of Cannabis. Until 1883, from 75-90% of all paper on the planet was made with cannabis hemp fiber including that for books, Bibles, maps, paper cash, stocks and bonds, papers, and so forth. Everything from floor coverings, diapers, wraps, quilts, towels, clothes, and even our nation’s banner were made conceivable by Hemp. The remainder of the world utilized it’s filaments well into the twentieth century and most nations despite everything depend on it for the main part of their paper and material enterprises.

Wal mart Assignment Example | Topics and Well Written Essays - 250 words

Wal store - Assignment Example Walmart Inc. works in excess of 11,000 stores across 27 nations around the world. A large portion of the global stores of Walmart are in Africa, Argentina, Brazil, China, Japan, Canada, Chile, Mexico, UK, and Central America. This is on the grounds that they appreciate imposing business model in nations without such dynamic stores and the number of inhabitants in the nations is a wellspring of clients. b. Give a pattern examination to years 2011, 2012 and 2013 with regards to where Walmart extended as well as stripped in its household and universal markets. That is, the place did they open and additionally close their stores. Likewise focus on the sort of stores they are opening as well as shutting. Walmart has six unique sorts of stores opened over the world. Among them is the Supercenter, fast excursion to an accommodation store, Discount store, Sam’s Club outlet center, Campus comfort stores. The organization chose to upgrade selling of staple goods since they discovered that food sells when contrasted with other stuff Merged net deals for the whole monetary year were $466.1 billion speaking to an expansion of 5.0% over financial 2012. Net deals included about $4.0 billion from acquisitions and around $4.5 billion of negative effect from money vacillations of swapping scale. Participation and other pay was $3.0 billion, demonstrating a diminishing of 1.6 percent from the earlier year. The absolute income was $469.2 billion expanding by $22.2billion or 5%. Salary from proceeding with activities associated with Walmart was $17.0 billion, which is a 7.8 % expansion from $15.8 billion in the past monetary year. 2013 financial was $5.02 when contrasted with last year’s $4.54, a 10.6% expansion. The powerful assessment rate for the wholeyear was 31.0 percent, contrasted with 32.6 percent for the earlier year. The pattern in the investigation shows that Walmart has a monetary chart that is ascending somewhere in the range of 2011 and 2013. This comes because of having a monetary strategy that is sorted out

An emoji alethiometer to help you make decisions

An emoji alethiometer to help you make decisions Longtime readers may recall that I am a big fan of the His Dark Materials  books. The themes, concepts, and narratives from the books have shaped how I move through the world, as you may have seen in my blog posts thinking about the branching paths we choose to take (or not), or how our new graduates might consider their obligations to their fellow humans. In a way, I think my entire theory of the blogs, and what we try to do with them, is inspired by a line from the  Amber Spyglass, as the ghost of an old woman whispers to Mary Malone what she is supposed to do to help our heroes fulfill their destiny: Tell them stories. They need the truth. You must tell them true stories, and everything will be well, just  tell them stories. Because the blogs are how we tell you stories. Maybe thats why so many bloggers â€"  including Mollie and Sabrina and Chris and Jess and Nisha and more â€" have found meaning in these books too. You may be encountering this universe for the first time now01 IN ???? THIS ???? HOUSE ???? WE ???? DO ???? NOT ???? ACKNOWLEDGE ???? THE ???? 2007 ???? FEATURE ???? FILM. because of the new BBC/HBO television adaptation that premiered this past Monday. I had a watch party at my house that Nisha and Rona attended. It wasgood. Im obviously too attached to the books02 Literally, given my a href=https://www.instagram.com/p/BlbA-MHDoAP/?hl=entaken-by=markwosgerauquarter-sleeve tattoo/a. to truly let myself enjoy the show uncritically, but the friends who were there who hadnt read the books before (like Rona) seemed to enjoy it too. But whether youre new to HDM  or returning, Ive got a fun little Internet thing for you. Back in 2018 â€" before the adaptation was even announced â€" my friend Matt, who was in the same research lab as me in grad school (and the same pre-school as me many years before that) and for whom the books played a similarly important role, proposed that we work on an emoji alethiometer app to give people the experience of carrying around a golden compass in their pockets. While I didnt get as involved as I would have liked, he and a few friends (fellow MIT alum Dan Schultz, designer Margo Dunlap, and developer Lou Huang), all affiliated with Bad Idea Factory, started working on building one, and today they launched it. As I wrote in a description elsewhere: The Emoji Compass is an alethiometer for the smartphone generation, combining the interpretive flexibility of emoji with the uncanny intelligence of a mobile device. Its powered by Dust (and React). Users move hands around the dial to ask a question, relying on layered meanings suggested by the app or held in their head. Then, the compass will respond with its own series of selections to generate an answer. We like to think of it as akin to the astrology apps that have surged in popularity, except for this one, you dont need to bother you mom to find your birth certificate first.     Some of our programming readers might be interested to know that the iOS app version of the emoji compass is possible because Dan made a wrapper that turns a web app into an iOS app, an open source project that he unhelpfully titled iOS Virus, which you can access, fork, and/or modify on Github here. I asked my friends who made this app to talk a little bit about why they decided to spend so much time on this. Heres what they said: Dan: I had never read this book, so naturally I jumped at the opportunity to spend countless hours on a tribute to a subtle detail that only fans would really understand. I generally agree to work on everything Im invited to work on; its a real problem, and I plan to use the Emoji Compass to make more effective decisions on what projects to work on in future. I just hope we made Aslan proud. Lou:   i also did not read the book and I am pretty sure I only know about HDM because someone at my church warned me about it. I have a lot of former colleagues I need to justify my last two years to. Margo:   It’s just a simple app, Michael. How long could it take? 10 hours? Matt:   Petey was the first person Id connected to IRL about the book series, and I was happy to learn I wasnt the only person whose entire moral code had been informed by a mid-90s Young Adult series. It emboldened me to question Authority while rooting me squarely and irrevocably in the corner of Good in that old battle. After two years of development, coinciding with the premiere of the show, we have managed to get this labor of love live! I hope, in this time of many decisions, the Emoji Compass helps you make some of yours. Over on the  HDM  reddit, people are sharing what theyve learned about the future. If you have suggestions on how to improve it, feel free to note them on Github. In the meantime, Im going to get back to reading applications and divining futures in more conventional ways. IN ???? THIS ???? HOUSE ???? WE ???? DO ???? NOT ???? ACKNOWLEDGE ???? THE ???? 2007 ???? FEATURE ???? FILM. back to text ? Literally, given my quarter-sleeve tattoo. back to text ?

An emoji alethiometer to help you make decisions

An emoji alethiometer to help you make decisions Longtime readers may recall that I am a big fan of the His Dark Materials  books. The themes, concepts, and narratives from the books have shaped how I move through the world, as you may have seen in my blog posts thinking about the branching paths we choose to take (or not), or how our new graduates might consider their obligations to their fellow humans. In a way, I think my entire theory of the blogs, and what we try to do with them, is inspired by a line from the  Amber Spyglass, as the ghost of an old woman whispers to Mary Malone what she is supposed to do to help our heroes fulfill their destiny: Tell them stories. They need the truth. You must tell them true stories, and everything will be well, just  tell them stories. Because the blogs are how we tell you stories. Maybe thats why so many bloggers â€"  including Mollie and Sabrina and Chris and Jess and Nisha and more â€" have found meaning in these books too. You may be encountering this universe for the first time now01 IN ???? THIS ???? HOUSE ???? WE ???? DO ???? NOT ???? ACKNOWLEDGE ???? THE ???? 2007 ???? FEATURE ???? FILM. because of the new BBC/HBO television adaptation that premiered this past Monday. I had a watch party at my house that Nisha and Rona attended. It wasgood. Im obviously too attached to the books02 Literally, given my a href=https://www.instagram.com/p/BlbA-MHDoAP/?hl=entaken-by=markwosgerauquarter-sleeve tattoo/a. to truly let myself enjoy the show uncritically, but the friends who were there who hadnt read the books before (like Rona) seemed to enjoy it too. But whether youre new to HDM  or returning, Ive got a fun little Internet thing for you. Back in 2018 â€" before the adaptation was even announced â€" my friend Matt, who was in the same research lab as me in grad school (and the same pre-school as me many years before that) and for whom the books played a similarly important role, proposed that we work on an emoji alethiometer app to give people the experience of carrying around a golden compass in their pockets. While I didnt get as involved as I would have liked, he and a few friends (fellow MIT alum Dan Schultz, designer Margo Dunlap, and developer Lou Huang), all affiliated with Bad Idea Factory, started working on building one, and today they launched it. As I wrote in a description elsewhere: The Emoji Compass is an alethiometer for the smartphone generation, combining the interpretive flexibility of emoji with the uncanny intelligence of a mobile device. Its powered by Dust (and React). Users move hands around the dial to ask a question, relying on layered meanings suggested by the app or held in their head. Then, the compass will respond with its own series of selections to generate an answer. We like to think of it as akin to the astrology apps that have surged in popularity, except for this one, you dont need to bother you mom to find your birth certificate first.     Some of our programming readers might be interested to know that the iOS app version of the emoji compass is possible because Dan made a wrapper that turns a web app into an iOS app, an open source project that he unhelpfully titled iOS Virus, which you can access, fork, and/or modify on Github here. I asked my friends who made this app to talk a little bit about why they decided to spend so much time on this. Heres what they said: Dan: I had never read this book, so naturally I jumped at the opportunity to spend countless hours on a tribute to a subtle detail that only fans would really understand. I generally agree to work on everything Im invited to work on; its a real problem, and I plan to use the Emoji Compass to make more effective decisions on what projects to work on in future. I just hope we made Aslan proud. Lou:   i also did not read the book and I am pretty sure I only know about HDM because someone at my church warned me about it. I have a lot of former colleagues I need to justify my last two years to. Margo:   It’s just a simple app, Michael. How long could it take? 10 hours? Matt:   Petey was the first person Id connected to IRL about the book series, and I was happy to learn I wasnt the only person whose entire moral code had been informed by a mid-90s Young Adult series. It emboldened me to question Authority while rooting me squarely and irrevocably in the corner of Good in that old battle. After two years of development, coinciding with the premiere of the show, we have managed to get this labor of love live! I hope, in this time of many decisions, the Emoji Compass helps you make some of yours. Over on the  HDM  reddit, people are sharing what theyve learned about the future. If you have suggestions on how to improve it, feel free to note them on Github. In the meantime, Im going to get back to reading applications and divining futures in more conventional ways. IN ???? THIS ???? HOUSE ???? WE ???? DO ???? NOT ???? ACKNOWLEDGE ???? THE ???? 2007 ???? FEATURE ???? FILM. back to text ? Literally, given my quarter-sleeve tattoo. back to text ?

Definition and Examples of Lazy Pronouns in English

The Best College Dorms Design, Amenities, Location

Freedom Of Speech And Expression - 1198 Words

III. Freedom of speech and expression The freedom of speech and expression is a cherished human right which has worldwide acceptance. The Universal Declaration of Human Rights through Article19, the International Covenant on Civil and Political Rights through Article 19, the European Convention on Human Rights through Article 19 etc. recognize this right as a human right. But it is not clear whether the right to use loudspeaker forms part of this right. Article 19(1)(a) of the Indian Constitution though guarantees the freedom of speech and expression, does not give any hint as to whether right to use loudspeaker forms part of it. Various High Courts have given various interpretations. An analysis of these decisions reveals that even the†¦show more content†¦The Court held : This fundamental right is not merely a right to make use of one s larynx... Thus the essence of the right does not consist in merely making use of the human noise, but it lies in the ability to convey one s views to others.... It follows from this that the right includes not merely the right to propagate one s views but also comprehends the right to circulate those views to as large an audience as one can possibly reach. If the mechanical appliances and instruments other than the press can help the citizen in reaching a wider circle of audience, than the limits of his voice can permit, there does not appear to be any good reason why the citizen should not be permitted to avail himself of them. However, the Court upheld the constitutionality of the impugned provision and rules, as the Court felt that the restrictions put on the use of loudspeakers were reasonable restrictions and is protected under Article 19(2). The Kerala High Court in Dr. Anantha Prabhu v. District Collectoril was requested to issue a writ of mandamus to direct the District Collector and the City Commissioner of Police to sanction the use of mike, loudspeaker or such other amplifier appliances, and to issue a writ of certiorari quashing the Ext.P2 proceedings in which a total prohibitionShow MoreRelatedSpeech On Freedom Of Expression1552 Words   |  7 PagesIs freedom of expression really a right of American citizens, and if so, are there any limits? To start off, freedom of expression is the right to express ones ideas and opinions freely through speech, writing, and other forms of communication, but without deliberately causing harm to others character and/or reputation by false or misleading statements. There is no such thing as full freedom of expression. There are many articles and laws stating that a person has complete and utter freedom ofRead MoreFreedom Of Speech And Expression Essay974 Words   |  4 Pagesthe State of Punjab, Fram Nusserwanji v. State of Bombay, Chandardeo v. State of Bihar, Tozam-mal v. Government of Bengal, etc., the laws related to press ultra vires to the constitution were quashed. Article 19(1) (a), freedom of speech and expression which also includes freedom of press is with the restrictions provided in Article 19(2) of the Constitution. When the constitution was enacted, Article 19 contained only following restrictions: 1. Libel, slander and defamation 2. Contempt of courtRead MoreFreedom Of Speech : Speech And Expression898 Words   |  4 PagesWhen the words, â€Å"freedom of speech† are uttered today, it brings about much conflict and tension. The vagueness of the First Amendment is a pretty good indication of how different times were back when the Constitution and everything along with it were created. Back then, all the Founding Fathers wanted was the establish a democracy using the lessons they had learned from the tyranny of the British King. They wanted more freedom and power to the people. In the modern era, everything has changed, andRead MoreAmerican Freedom Of Speech And Expression1115 Words   |  5 Pagesbe defined as people of self-expression and diligence in the workforce because they have multiple freedoms, rights to be themselves, as well as gratitude towards the United States of America. Many Characteristics can be used to describe an American but self-expression and hard work are the most important one s. These characteristics are what helped the American society grow into the strong community it is today. To begin with, American’s are admired for their freedom. In America, people believe aRead More Freedom of Speech and Expression and Responsibility Essay1629 Words   |  7 PagesFreedom of Speech and Responsibility       No matter how fervently someone believes in the justice of his cause, suppression of the free exchange of ideas is failure at best or downright wrong. The power or might behind an idea does not make the idea right. Many powerful people throughout history have been wrong. Few people, if any, would judge Mr. Smith Goes to Washington to be subversive or wrong. In 1939 Ambassador Kennedy was so caught up in the fears of the times that he was willing toRead MoreMedia s Speech On The Freedom Of Speech And Expression1173 Words   |  5 Pagesessential task in intensifying awareness in all people about human affairs in a society. The right to freedom in article 19 of the Constitution of India guarantees the freedom of speech and expression, as one of six freedoms. Although article 19 does not expressly provide for freedom of press, the fundamental right of the freedom of press is implied in the right to freedom of speech and expression. The media being in the vocation of gathering and circulating information is supposed to hold dominantRead More Freedom of Speech and Expression - Little Freedom in a Complex World1183 Words   |  5 PagesLittle Freedom of Expression Freedom of expression, like the air we breathe, is a luxury that most people in western civilization take for granted. I know I certainly took it for granted when I was in the twelfth grade, and that presumption almost got me expelled. In Cornwall, Ontario this last December the idea of freedom of speech did more than get a young man expelled. He was forced to spend the better part of a month, including Christmas, New Years Eve, and his sixteenth birthday in jailRead MoreMillian Principles, Freedom of Expression, and Hate Speech1350 Words   |  5 PagesSpeech that attacks a person or group of people on the basis of race, gender, or sexual orientation is regarded as hateful. It has the potential to incite violence or prejudicial action against or by a protected group of people. In Millian Principles, Freedom of Expression, and Hate Speech, Mill makes the claim that essentially all speech, including hate speech, should be allowed. This claim holds its validity as long as no harm is d one to an individual. Here, I will show that low value speech failsRead MoreFreedom of Speech, Comparing Freedom of Expression in the Statutory Law and the Sharia Law19992 Words   |  80 PagesUniversity of Westminster MA in International Journalism Freedom of Expression Comparing Freedom of Expression in the Statutory Law and the Sharia Law (Human Rights Act 1998 of The British law as an exemplar) Dissertation Submitted for The MA Degree in International Journalism University of Westminster By Motasem Ahmed Dalloul Copyright (2012), University of Westminster and Motasem Ahmed Dalloul Introduction Getting in touch with media law during the first semesterRead MorePolicy Proposal: Restriction to Freedom of Speech Clause965 Words   |  4 PagesPolicy Proposal Restriction to Freedom of Speech Clause The Restriction to Freedom of Speech Clause would add the following to exceptions that are allowed to speech and expression under the First Amendment (see boldface text). Restrictions on freedom of speech are currently permitted to be imposed on Speech that incites illegal or subversive activity Fighting words Symbolic expression Commercial speech Freedom of expression in public schools Obscenity and pornography Regulation of

Education And Optimal The Dynamic Taxation -Myassignmenthelp.Com

Question: Discuss About The Education And Optimal The Dynamic Taxation? Answer: Introducation Expenditures which are in relation to work are treated as taxable income of taxpayers with respect to the specific year of assessment and the year ended 2017. There are three elements which are considered for the purpose of identifying the income (Wilkins 2015). They include spouses income as salary and wages, superannuation compensation which is done by the employer in relation to a sacrificed value of salary and compensation resulting out of medical expenses. The three elements are treated as taxable income as spouses salary can be accessed by the husband. In addition expenses resulting out of medical treatment and superannuation are also taken into account for assessing the income which assessable. The income from employment is regarded as the primary source of income which is derived by the person in a specific period so that the present position can be boosted (Vann 2016.). Capital gains According to the provisions of taxation ruling of 95/35 any sort of capital gain which is made in relation to the ruling is going to be treated as a capital gain tax. The provisions are particularly in relation to consequences of CGT towards the compensation amount receipt (James 2016). In addition with respect to these provisions any kind of compensation which the tax payer has received totally in relation to tax payer s compensation or sale of underlying assets it is going to be treated as those considerations which are received for disposing the asset (Findeisen and Sachs 2016) The compensation which the tax payer has received with respect to any money arising out of various options such as revenue collected from court proceedings, sale of underlying assets or the sale of property or dissected assets is going to be treated as compensation. In addition as depicted from the situation in hand it can be said that the share transfer on the part of the tax payer which arises when the shareholder dies is going to be considered as the assets real owner. As stated by Becker, Reimer and Rust (2015), the shares which have been held in five organizations which are MYR, COH, BHP,TLS and CBA whose sale price along with present market value as stated by the tax payer in case of death has been used to determine the sale proceeds. According to the case of Inspector of Taxes v. Bensons Hosiery (Holdings) Pty ltd it had been provided by the court that any form of legally enforceable rights can be used to account the asset in relation to the CGT legislation as per Bankman et al, (2017) Capital Gai The wear and tear in relation to the obsoleteness of an assent is represented by depreciation in case the in the individual tax payers books of accounts non-current transaction is recorded. TheCapital gainsof instant write off method is done by the individuals for the purpose of ascertaining the overall deprecation which have been subtracted from the overall tax liabilities which took place during the year. References Bankman, J., Shaviro, D.N., Stark, K.J. and Kleinbard, E.D., 2017.Federal Income Taxation. Wolters Kluwer Law Business. Becker, J., Reimer, E. and Rust, A., 2015.Klaus Vogel on Double Taxation Conventions. Kluwer Law International. Findeisen, S. and Sachs, D., 2016. Education and optimal dynamic taxation: The role of income-contingent student loans.Journal of Public Economics,138, pp.1-21. James, S.R., 2016. The International Conference on Tax Administration. Vann, R., 2016. Hybrid Entities in Australia: Resource Capital Fund III LP Case. Wilkins, R., 2015. Measuring income inequality in Australia.Australian Economic Review,48(1), pp.93-102.

Alexander the Great vs. Cyrus the Great free essay sample

In our past, we have had many leaders. Some were better than others, but what must a leader do to acquire the label â€Å"great†? Of course, one could simply go by the definition of the word and deem the leader â€Å"above average†. Did the great ones of ancient times exceed these standards or were they just above average like a standard dictionary would have us believe. Let us focus on two â€Å"great† leaders of our past by the names of Alexander and Cyrus. Both of these kings were famous for the way they ran their empires but were they both, so called, great? Cyrus the Great was the first king of the Achaemenid Empire. While he was king, he freed 4,000 Jews from Babylon. He also founded a new capital, invented the first postal system, and was mentioned 22 times in the old testament. Not only did he build one of the most powerful empires in ancient times, but he made its glory last by organizing it and expressing his tolerance of different races and religions. We will write a custom essay sample on Alexander the Great vs. Cyrus the Great or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Alexander the Great lost his father and became a king at the age of 20. While he was king, he expanded Macedonian territory. He did this through conquest and was never defeated in battle. In fact, he conquered half of what was known in the world at the time. He also founded a city in Egypt and named it â€Å"Alexandria† (after himself, of course) and Wheatley2 discovered trade routes in Asia. But, because of the excellent battle strategies he was known for, he is often called the greatest military leader of all time. These great leaders were very different in the ways that they ran their kingdoms, but they did have some things in common. For one, they both had large and exceptional empires. Also, they were both born princes and became kings of small kingdoms and sought through conquest to enlarge them. But the biggest comparison I found was that it was said Cyrus had an influence on Alexander. In my opinion, Alexander did the most to signify his existence and roles in ancient times. He was an amazing leader and was known to never lose a battle. As another example, he expanded his empire greatly by doing what he was best at. Battle took him and his kingdom far and that’s something people wouldn’t soon forget. When it comes to contribution to the subject of Western Civilization, I do believe that Cyrus takes home the gold. After all, he came before Alexander did. What is a leader without his inspirations? He freed Jewish slaves, created the first postal service, and created the greatest, most-powerful empire in ancient times. If it weren’t for him and his examples, perhaps Alexander wouldn’t have been so infamous for his tactics in ruling his kingdom. I guess the people we call â€Å"great† these days are not as wonderful as they seem. Maybe if people took a look into our past at the real great ones, the leaders in our present would only be average.

Free Essays on Women In Theilogy

In the Pope John Paul’s statement on women he discusses ways in which women should conduct themselves and how they should respond to certain dilemmas that may come as a result of modern cultures in society today. The Pope’s teaching is based on the scripture, God’s word and Bible principles. In his method of teaching through the Scripture, Pope John Paul, shows how God feels about women’s roles. For example, he states that God had an original plan. Man and woman were to be couple and they were to produce and be fruitful. However in society there is sin and there are problems, which can interfere with the original plan. According to Pope John Paul II, women should be teachers of peace. In section five of his statement, he states in order for women to be teachers of peace, they first have to find peace within themselves. He uses example of women throughout history that have been able to over come problems in society, such as discrimination, racism, and violence. In section Six he discusses how should have a close relationship to their children, how children should be raised in a safe yet loving environment. Because there a many factors involved in the way children turn out every part of their development, children need to be educated through ways of peace. Through a Theological method Anne E. Carr she discusses how women are often left, or they are made to feel less important than men. She points out how there is still sexism existing in certain institutions. She explains how religious and theological views of women helped create the negative perceptions of women. She also brings out how women’s voices were absent in the church. They are more often seen and not heard. Both Anne E. Carr and Pope John Paul II discuss women and they both have interesting methods of discussing women and their roles in society. However as a woman, Anne Carr, relates more and understands what women often go through. Carr points... Free Essays on Women In Theilogy Free Essays on Women In Theilogy In the Pope John Paul’s statement on women he discusses ways in which women should conduct themselves and how they should respond to certain dilemmas that may come as a result of modern cultures in society today. The Pope’s teaching is based on the scripture, God’s word and Bible principles. In his method of teaching through the Scripture, Pope John Paul, shows how God feels about women’s roles. For example, he states that God had an original plan. Man and woman were to be couple and they were to produce and be fruitful. However in society there is sin and there are problems, which can interfere with the original plan. According to Pope John Paul II, women should be teachers of peace. In section five of his statement, he states in order for women to be teachers of peace, they first have to find peace within themselves. He uses example of women throughout history that have been able to over come problems in society, such as discrimination, racism, and violence. In section Six he discusses how should have a close relationship to their children, how children should be raised in a safe yet loving environment. Because there a many factors involved in the way children turn out every part of their development, children need to be educated through ways of peace. Through a Theological method Anne E. Carr she discusses how women are often left, or they are made to feel less important than men. She points out how there is still sexism existing in certain institutions. She explains how religious and theological views of women helped create the negative perceptions of women. She also brings out how women’s voices were absent in the church. They are more often seen and not heard. Both Anne E. Carr and Pope John Paul II discuss women and they both have interesting methods of discussing women and their roles in society. However as a woman, Anne Carr, relates more and understands what women often go through. Carr points...

Buying the Farm Essay Example | Topics and Well Written Essays - 250 words

Buying the Farm - Essay Example From the case of Tim to purchase a farm from Mary Ann and complete the arrangement on oral ground is a contract which is not enforceable as it is against the statute of frauds which require some contracts to be in writing and should be signed by all parties who are to be bound by the contract (Hinkel, 2007). This is to prevent injury of any party due to any fraudulent conduct (Hinkel, 2007). The contract between Tim and Mary Ann, which involves the transactions in a farm, is not enforceable because the following conditions were not met, there was no legal capacity of the parties into the contract because the contract was made contrary to what the law provides, there was lack of mutual agreement as the parties failed to agree on a written platform, the oral contract lacked the lawful purpose and intention as the contract was arrived at, contrary to the laws (Hinkel, 2007). Lastly the contract lacked a written agreement, which is provided in the statute of the frauds which demand such contracts to be in writing (Hinkel, 2007). These conditions make the contract invalid and

Should Adultery be illegal Research Proposal Example | Topics and Well Written Essays - 250 words

Should Adultery be illegal - Research Proposal Example Although adults are consenting individuals and should be permitted to sleep with whomever they choose, adultery should be illegal because it is a violation of a legal contract and a cause for divorce. Adults are consenting adults and are permitted to sleep with whomever they choose to unless he/she is a minor. Currently, the American society comprises of different sexual relationships including heterosexual and homosexual associations, and although homosexual marriages remain largely illegal in several states, others in the US have legalized the practice. Legalizing same sex marriage is a clear indication of the respect that the law accords individuals in the choice of a marital partner, if both partners are adults (Ethridge and Stephen, 2004). Even though adults are consenting and permitted to sleep with whomever they want to, adultery should be illegal because it is a major cause for fault base divorce. According to Arterburn, Fred, and Yorkey (2000), one or both parties in a marit al union dissolve most of their heterosexual marriages in United States on allegations of adultery. This leads to psychological, economical and social suffering to all concerned parties, including children.

Valchromat Pros and Cons

Valchromat Pros and Cons This is our report on our exploration of a manufactured board known as Valchromat. Valchromat is a unique and high quality wood fibre board that is coloured throughout. There is another product similar to it called Fibracolour but this does not match up to the many qualities of Valchromat which we will explore later. We have chosen this topic for several reasons. It is interesting and unheard of to many people while it also relates to two of our learning outcomes in that it is a versatile material that can be used in furniture construction and that it can be used as an architectural woodworking component. A brief description of Valchromat It comes in 8 colours and 7 different thicknesses. Valchromat is made from forest waste, residue from timber mills and recycled pine.http://www.valchromatsa.com/pics/product/10.jpghttp://www.valchromatsa.com/pics/product/1.jpghttp://www.valchromatsa.com/pics/product/8.jpghttp://www.valchromatsa.com/pics/product/6.jpghttp://www.valchromatsa.com/pics/product/4.jpghttp://www.valchromatsa.com/pics/product/16.jpghttp://www.valchromatsa.com/pics/product/12.jpg Its manufacturing process is extremely environmentally friendly. Its production site has zero carbon Emissions. It is manufactured using organic dyes and a specially formed binding resin that ensure exceptional physical and mechanical characteristics while keeping a natural appearance. It is also approved by the British Standards association for safe use in the manufacture of childrens toys.http://www.valchromatsa.com/pics/product/14.jpg It sounds like the perfect manufactured board but can it really be that good? Brief History Of Valchromat Valchromat was created in the research department of valbopan in Portugal as they wanted to improve and develop new and existing wood related products. There was a gap in the market that called for a product combining colour and the features that could already be found in manufactured boards. It was first introduced in Paris in 1998 at the Aprofal fair where it won the technological innovation prise and the display prise. It then hit the market in 1999 through distribution channels in France Switzerland and Belgium. Over the past 30 years MDF has never been completely accepted by specialists as an adequate product for different finishes and decorative processes. Valchromat has broken this taboo. Valchromat is apparently 30 % stronger and more stable than MDF board and can be completely moisture resistant with the right finish. It also increases the lifespan of tools due to a lubricant agent in its composition. But if Valchromat contains all these qualities, then surely most other manufactured boards will also? Manufacturing of Valchromat The wood pigments and glues are carefully selected. The wood is peeled from the bark and torn into small chips. Then the chips are run through a powerful magnet to remove 99% of metals. They are then washed to remove 80 90% of sand which according to the manufactures will reduce the wear and tear on tools. The chips are then sorted into similar sizes and steam cooked. This makes the chips soft and eaier to isolate the fibres. The organic pigments and glue are then added to the fibres. When this mixture has dried the valchromat is pressed in a large press forming large sized sheets. It is then cut to size and assessed in quality control. Properties of Valchromat The Advantages and Disadvantages Valchromat has many advantages above standard MDF. These include strength, wear and tear, machining, environmental and health aspects, variety and finish choices. Strength: During processing special resins are added to the wood fibres bonding them together causing Valchromat to be 30% stronger than ordinary MDF. Due to the strength of Valchromat it can be used in areas of construction requiring high strength material such as, counter tops, table tops, ceilings and walls. Standard MDF would be unsuitable in some cases of these areas of construction as bowing over a large span can be an issue. Wear and tear: Unlike standard MDF, Valchromat is soaked all the way through with organic colour die allowing scratches difficult to detect. Sanding and re-lacquering is all that is required to bring Valchromat panels back to their finished state. Machining: Contained in the special wood fibre bonding resin used in Valchromat is an organic base chemical called melamine. This chemical has lubricated properties which allow the blades of cutting tools to glide through the wood free from friction. It has been verified that blades of cutting tools used for cutting only Valchromat have a life span of four times longer than blades used for cutting standard MDF. Environmental and health aspects: Valchromat is an environmental friendly non-toxic substance made from recycled pine wood and mill waste. Valchromat panels are manufactured using waste wood such as branches and chips from softwood forests. In using waste wood Valchromat helps to sustain forests and minimize carbon emissions given off from felling machinery. Also the carcinogenic odorless chemical gas known as formaldehyde which is found in the wood fibre bonding resin used in standard MDF is absent in Valchromat where a special organic non- toxic wood fibre bonding resin is used allowing Valchomat safe to be used in the manufacture of kids toys. Valchromat also use the same colour dye used in fabric. This dye is organic and non-toxic. Finishing choices All finishes such as lacquer, wax, oil, fire retardant and glossy will give an immense finish when applied to Valchromat. Valchromat is set to take the place of MDF as the standard manufactured panel board used in furniture construction due to its superior strength, moisture resistance and adaptability. Valchromat can take just about any finish required unlike MDF and it surpasses most standard required for furniture construction. http://www.iscsupply.com/id172.html Standards ValchromatÂÂ ® is classified E1 (very low formaldehyde) and has been approved by the British Standards Association for the safe use in the manufacture of childrens toys. http://www.valchromatsa.com/product/index.html Valchromat holds many certificates aswell as their own extremely high standards SGS Certificate Factory production Control certificate Conformity Declaration Certificate Uses of Valchromat Valchromat is leading the field in manufactured boards. It is mostly used in high end furniture construction at the moment but is sure to work its way down to the small workshop because of its superiority to other manufactured boards. Valchromat is used by the leading designers and manufacturers in the furniture industry. Its adaptability means it is used for different furniture projects from table tops, kitchens, Bathrooms, shelving, wall cladding and other things. Valchromat has won numerous awards and has been on show in many prestiges exhibitions. Tent London will host a dramatic pop up cafe bar pavilion designed by award-winning London design studio, Vonsung. From 23-26 September 2010, visitors to Tent London will have the opportunity to experience Vonsungs striking pop-up cafe bar. Commissioned by Tent London the pavilion will provide a unique dining and bar space for the duration of the event. A fast build, the primary structure will be constructed from materials loaned from Vonsungs existing project sites. The cladding material, which will encase the floor and ceiling, is Bolon, a world leader in woven vinyl material. The walls will be ValchromatÂÂ ®, an innovative, award-winning engineered coloured wood, used by architects, designers and decorators. The whole structure will be illuminated by both skylight and dramatic indoor lighting, forming shadows and silhouettes, it will create a compelling feature within Tent Londons design event. http://tentlondon.blogspot.com/2010_08_01_archive.html Interlam is one of the leading manufacturers of carved wooden panels and one of its main materials is Valchromat alongside other materials. INTERLAMÂÂ ® was established in 1985 as an Italian High pressure laminate distributor.ÂÂ   Over the past 23 years we have grown to become a leading manufacturer of sculpted wall panels and expanded our line of architectural components.ÂÂ   INTERLAMÂÂ ® is a designer and manufacturer of high-end SCULPTED WALL PANELS,ÂÂ  CARVED WALL PANELS, DECORATIVE WALL PANELS, ORNAMENTAL WALL PANELS and components based in the United States and exporting to all corners of the globe. The cornerstone of our business is creating and supplying products to the AD community that add significant value to their individual projects. Water resistant, Ecological and Strong; just some of the words used to describe Valchromat from Interlam. Valchromat uses Special resins that are added to the wood fibre during processing which bonds the fibre together. This causes Valchromat to be 30% stronger than standard MDF. Add to that the fact that Valchromat can be used as. Walls, cabinets, seating, tables, ceilings, counters, and general millwork as well as counter tops, table tops, store fronts, and high moisture areas. http://www.interlam-design.com/Products.cfm The TazCorporation is a another major user of Valchromat in furniture manufacture for both local and international markets Valchromat was created to address the need to overcome the limitation of the existing wood fibre materials in the marketplace. For a few decades, MDF has never really been accepted by specialists as an adequate product for different finishes and decorative purposes. Valchromat has broken this convention by introducing a new aesthetic concept of its own while complying with the chemical and mechanical specifications of the MDF. In addition, Valchromat has been awarded for its significant technical innovation ever since its introduction in the Approfal Fair, Paris in 1998. The material has since undergone different industrial tests before its full-fledge distribution in Europe in 1999. Future Possibilities At the moment the future of Valchromat looks very healthy. With new designs available with every advancement in technology. It is already used in Kitchens, Bathrooms, and many other household rooms and offices and is making serious inroads in the childrens toys industry. Whatever route furniture construction takes in the next few years Valchromat is bound to be a part of it for a long time When it comes to choosing the best kind of fibreboard there are many options from LMF, MDF, HDF and now valchromat.http://t2.gstatic.com/images?q=tbn:ANd9GcSQ_K-zGBck77HtTSqEp_vF27qWscAnGc_PWYB80vx1wTD0RWrhRQ The most frequently used fibreboard from knowledge would be MDF (medium density fibre). Its method of manufacture is simple, softwood wood fibres glued under heat and pressure. It has a lot of advantages over solid wood as very little shrinkage and expansion occurs. It is available in large sheets 84 and 95, its Dense, flat, stiff, free of knots, grain not distinguished and very easily machined such as cutting, drilling, filed etc. It can be finished with a variety of solutions such as water based paints, oils, varnishes, lacquers or it can even be laminated. Paint Oil Varnish Lacquer Laminate Along with the advantages of MDF there are also disadvantages, because MDF contains a large amount of glue, this cause blunting to tooling very quickly. Probably the main disadvantage would be the health risks caused by the dust produced from MDF, this is because the fibres are bonded together with formaldehyde resins. Formaldehyde is a toxic chemical and is continuously being released from MDF unless sealed, which can cause irritation to the eyes, nose, throat and mucous membrane. It can also cause irritation to the skin and is cancerous. A new product on the market now is valchromat. It is based on the same principles as MDF but in many ways it is much better. Valchromat unlike MDF is moisture resistant and is recommended to be used in areas with high moisture and humidity, where as MDF will tend to swell and expand when in contact with moisture. The wood fibres come from forest waste and there is no formaldehyde added to the product which makes this product non-toxic and more environmentally friendly unlike its rival MDF. Valchromat is available in a variety of colours due to organic dyes being infused into the wood fibres, these dyes penetrate the wood fibres so that the colours are uniform throughout the board. The dye is also resistant to fading when exposed to UV rays from artificial light. These dyes are non toxic, and they are similar to dyes used in fabrics. Special resins are used to bond the fibres together which along with the organic dyes, make valchromat 30% stronger than standard MDF. Because valchromat comes in coloured panels it is ready for production without the need to be painted, finishes maybe added to deepen the colour of the panel such as lacquer, varnish etc. HDF (high density fibreboard) is another form of fibreboard and in many ways it is much better than MDF. It is manufactured using similar principles as MDF, wood fibres glued together under heat and pressure except, HDF is made from exploded wood fibres and is put under much more pressure than MDF produce a higher quality board. Is HDF a better solution than valchromat? In terms of strength and density . . . . . . . . . . . .Yes, as HDF is 75% denser than MDF (depending on manufacturer), where as valchromat is only 30% denser than MDF. In terms of resistance to moisture and environmental impact . . . . . . . . . . . . . . . . . . . . No, HDF incorporates the same moisture problems and dangers as MDF, moisture causes the panel to swell and expand, and danger through formaldehyde which can cause health problem such as cancer. Conclusion From doing this report we have definitely met the two learning outcomes stated in the introduction. Valchromat is without a doubt a versatile woodworking material and can be used for many architectural components. We also feel that valchromat , even though it is so versatile, it still would not be our choice for certain jobs like making jigs and other practical items. We have already decided to use it ourselves in some project at some stage in our woodworking careers.

The Physics of the Sound Wave and its Effects on the Human Ear Essay

The Physics of the Sound Wave and its Effects on the Human Ear Could you imagine living in a world without sound? It would be enormously different from the world that we know. Our primary form of inter-human communication would be based on visual or tactile imagery. Our sense of perception would be changed. Telecommunication would be different. We would not have the pleasure of music or the soothing sounds of nature. Sound has had an immense impact on our world. This essay will explore the unseen world of sound waves and how humans perceive them. Generally, people hear sound waves traveling through air. These waves cannot be seen, but are heard or felt via vibration. Sound waves originate from vibrating objects and travel in longitudinal waves through mediums (such as a solid, a liquid, or a gaseous material). These types of waves are defined by the textbook as: â€Å"†¦wave[s] in which the vibrations of the medium are parallel to the direction the wave is moving.1† Figure 8.52 shows an excellent example of a tuning fork producing longitudinal waves, which are perceived as sound. It is apparent that as the prongs are struck, they move outward. As they move outward, the neighboring air molecules are compressed together creating what is called compression. The tuning fork prongs reverse the pressure as they move inward and cause a rarefaction (the opposite of a compression) in the neighboring air molecules. The process is repeated until the tuning fork returns to its resting state. As previously stated, sound waves can travel through various mediums. The universal formula to obtain the speed of a sound wave is:Speed=distance/time. â€Å"The faster which a sound wave travels, the more distance it will cover in the same period of tim... ...le that has an intensity of 10-3 W/m2 can be determined2: db = 10 log 10 ( 10-3/10-12 ) = 90-dB. Decibel levels from 0-80 dB are safe to the human ear. Prolonged exposure to sounds higher than that can result in hearing damage. With the factors of frequency and amplitude brought into relation of hearing, it is apparent that nothing would be understood without the concepts that can be referred to from physics. Physics enables the analysis of the human’s ability to understand sound waves. References: 1-Kirkpatrick, L.D. (2001). Physics A World View. (4 ed.) Philadelphia: Harcourt 2-Russell, K. (1997). Sound Waves. Retrieved: 4-30-03 From: www.umanitoba.ca/faculties/arts/linguistics/ressell/138/sec4/actoust/htm 3-Henderson, T. (1998). Sound Waves and the Eardrum. Retrieved: 4-30-03 From: Http://www.glenbrook.k12/gbssci/phys/mmedia/waves/edl.html 4

AOS: Belonging Essay

Experience †¢Our life experiences teach us that when you stop trying to belong you realize that you have always belonged. †¢We search for a place to belong, not realizing that it is our perceptions and attitudes and not the place that allow us to belong. Notions of identity (Ideas) When your cultural identity is marginalized you can feel displaced and dislocated, and believe that you don’t belong to your culture or the dominant culture. †¢Our search for who we are is fueled by a need to find a place in the world where we belong. Relationships †¢The need to belong to a group of community shapes our behavior, attitudes and actions. †¢An individual has the potential to damage relationships and ensure that others do not belong. †¢When humanity experiences a strong (spiritual) connection to a place the notion of belonging is strength – ENED and ENRICHED. †¢When our relationship with a place is shaped by a narrow and biased view of the world, our notion of belonging can be questionable. Acceptance †¢The basic human need to be accepted and belong can cloud our judgments and direct our actions. Understanding †¢When we begin to understand the forces that drive us to belong we develop empathy for others and personal insight. Essay Introduction Belonging is about connections made with people, places, groups, communities and the larger world. A sense of belong is a fundamental need. As Kofi Annan says, â€Å" We may have different religions, different languages, different colored skin, but we all belong to one human race†. The oxford dictionary defines the word belong as be a member, fit in a specified environment, not be out of place.’ The need to ‘fit in’, to belong with others is common to all humanity, crossing all geographical and cultural boundaries. The need to ‘fit in’ to belong with others is common to all humanity crossing all geographical and cultural boundaries. Perceptions of belonging are shaped within personal, cultural, historical and social contexts. ‘The Fringe Dwellers’ directed by Bruce Beresford deals with an indigenous Australian family whose struggles for acceptance and identities are portrayed through its main characters. Bruce Beresford has used film techniques†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ to show the different aspects of belonging. These characters are depicted as people striving to attain an identity, but the barriers to their acceptance are quite strong. The different aspects of belonging/ not belonging presented in the text are place/land, Topic sentence – about place and land and sense of belonging, Land/Place/Home is an important part, the members of Comeaway family belong to each other and stick together in their extended family in WA. They live in a dilapidated house on the out skit of town. Mrs comeaway is the centre or the family. Trilby has great ambition and plans and wants to move into the council house. The thinks that if she moves into the new house she will be able to like any other white person. The family feels a sesnse of belonging to that place after they moved out to their new home. Trilby says, it’s all new’’. ’A kitchen, an electric stove and running water!† She feels a sense of belonging to that place and does not want her relatives to stay there. The close connection to a place is significant to every individual. Having a home, feeing secure and comfortable is vital. Tribly feels out of place due to her great ambitions and goes away in the end searching for a place of her dreams – to the city to get her great white Australian dream materialized. Some of the shots are extreme long shots and some long shots which show the background. The body language of main characters tells a lot more than words. Trilby and Noonah are a searching for a place to belong Skippy’s return to his tribal birth place indicates that he wants to belong where her belonged. The second aspect of belonging is ‘notions of identity/acceptance. An individual’s sense of identity reflects his/her belief or aspirations about where they belong and feel accepted. When our cultural identity is marginalized we feel displaced and we believe that we do not belong to our culture or group. Our search for who we are is fuelled by a need to find a place where we belong. The sharing of common values creates a bond that allows individuals to feel they won’t be misunderstood or rejected. Often the process off searching and finding one’s identity is a difficult process and can change overtime. In Fringe Dwellers, Noonah, Moolies, Bertie, Joe, are all aware of their identity they never question it except for Tribly – Comeaway school girl. Trilby is full of grand hopes and dreams and questions her identity through body language. There is a difference between knowing your sense of identity and searching for your identity. Trilby constantly encourages her family to be independent and live just like the whites. The director showing the close up shot of Trilby’s face in front of the mirror indicate Trilby’s insecurity about her identity. Again the point of view shot of Tribly looking intently at the window (with the scenes of the city) shows. Her dreams and aspirations. This was the route she looks. Forwards to walk on as it is a pathway to get accepted by the wilder community.

Social And Developmental Perspectives Of Psychology

Phinney Ong’s (2007) article discusses both the social and developmental perspectives of psychology in relation to the various components and measurements that are commonly used to identify ethnic identity within groups. To aid in their discussion, the researchers start by analyzing the available studies whose research effectually laid the groundwork for the development of both theoretical models and applicable assessments concerning individual and group ethnic identification, such as the Multigroup Ethnic Identity Measure (MEIM) and the Multigroup Ethnic Identity Measure – Revised (MEIM-R). The purpose of this research was for the researchers to be able to draw their own conclusions regarding modern theories of ethnic identity so that†¦show more content†¦277). However, Phinney Ong (2007) takes the concept of social identity one step further by suggesting that a person’s ethnic identity is also a form of social identity that develops alongside the fo rmation of both the ingroup and outgroup mentality. Therefore, individuals who feel strongly connected to their ethnic group are more likely to identify with and/or behave according to the social norms and expectations of that group. For example, in studying the differences between the multicultural theory and the social identity theory, researchers Negy, Shreve, Jensen, Uden (2003) discovered a strong correlation between individual levels of ethnic identity and levels of ethnocentrism in both European Americans and Latino/a Americans. However, there was little to no correlation found among those who identify themselves as African American. Nevertheless, Phinney Ong (2007) conclude that ethnic identity is multifaceted and research designs and methods should reflect the multidimensional nature of ethnic identity accordingly. In addition to evaluating ethnic identity from a variety of psychological or behavioral perspectives, the article also discusses a number theoretical models for defining ethnic identity. As Phinney Ong (2007) state, â€Å"a clear theoretical model, therefore, is a necessary foundation for allShow MoreRelatedPsychology and Points Essay599 Words   |  3 Pagesyou choose, write which perspective or branch from psychology (humanistic, positive, biopsychology, cognitive-behavioral, developmental, or social psychology) is most related. Then write a one-sentence statement that describes this perspective. They have a medical condition. Biopsychology It shows how the brain effects the way a person acts. 2. 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Analysing The Financial Performance Of Three Oil Companies Finance Essay - Free Essay Example

Sample details Pages: 16 Words: 4766 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Compare and contrast essay Did you like this example? For our assessment we will be analysing three companies form the oil and gas market. The companies that will be analysed are Fortune Oil PLC, Maple Energy PLC and Circle oil PLC. An introduction to the business market and the companies can be found below. Introduction to the oil and gas business market The oil and gas industry is a huge industry facing challenges and has evolved majorly. Most of the oil and gas production takes place under the seas. According to the Cambridge energy research associates, Inc oil demand may double up by 2030. To reduce the expenses of finding and producing oil and gas, new technology is used. Oil and gas provide 60 percent of the daily energy needs to 6.4 billion people and other 40 percent comes from other resources. Oil and gas represent globalization on a large scale. The market is expanding and spending billions of money for the oil and gas production. For country s long-term economic growth maintaining a steady supply of oil and gas is a necessity. Large quantities of oil and gas flows from exporting regions such as Africa, Latin America to the importing regions such as the north America, Europe and far east. This leads to political trade and economic growth. (Petroleumonline.com/Gas industry overview: 2010) Oil and gas industry is co mpeting with a global marketplace and has a higher number of stakes or stakeholders. There is no control over the demand for oil and gas in the world. It is constantly on the rise with the likes of upcoming economies like china and India playing more than an active part in their demand. (Ernst Young: 2010) Oil prices have varied from the year 2007 to 2009.During the year 2007 the average price in nominal and real 2008 US dollars soared to around 100 dollars. In the year 2009,the annual average price faced the great recession leading to loss. During the year 2008,the amount of oil production declined from 80 million barrels per day to 20 million barrels per day .Oil demand is expected to increase steadily until 2030 at about 110 million barrels per day. Iraq has a huge prize at stake for international oil companies. India and China s per capita oil consumption is at a lower level when compared to the other developed countries like UK, United states, Canada and so on. (Jim Burk hard: 2010) Don’t waste time! Our writers will create an original "Analysing The Financial Performance Of Three Oil Companies Finance Essay" essay for you Create order Introduction to Fortune Oil PLC Fortune Oil Plc has built up a portfolio of investments and operations in oil and gas industries through various subsidiaries and joint ventures and associated infrastructure projects that supply fuel to homes and businesses in China. The company is listed on the London Stock Exchange main board official list since 1993. It is headquartered in Hong Kong.   Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚   The companys aim is to be the first integrated gas industry in China with both upstream and downstream assets. It is also expanding opportunities in the oil terminal business and is one of the Few  international companies involved in this part.   Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚   Fortune Oils assets are categorised into two main areas: oil terminal supply and natural gas. Its investments and operation s are mainly located in the Guangdong and Shanxi provinces and the Beijing hinterland. The Company is now developing coal bed methane reserves, which will integrate with our gas supply business and benefit Chinas environment.    China is the worlds second largest oil market and is also the largest growth market for natural gas. Fortune Oils gas strategy is to form an independent integrated gas company: developing their own resources of unconventional gas; sourcing gas from other producers and then selling this gas to end-users through the city gas companies or CNG vehicle stations.   Fortune Oil has already had Chinas first LNG production plant; the largest CNG station in Beijing and coal bed methane block in Shanxi Province.   At the present, there are no private or foreign companies in China with a regionally integrated gas business. Fortune Oil is now in the process of developing the Liulin block and seeking similar high quality opportunities, particularly in Shanxi Province-the largest CBM reserves in China. Fortune Oil already generates pipelines and city gas companies in the province, and is  exclusively positioned to integrate upstream CBM developments with  their gas distribution network.  Â  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  China is the world second largest purchaser and importer of crude oil. Fortune Oil first developed oil terminals in China and remains one of the few  foreign investors. Currently the company operations include supplying jet fuel to most of the airports in south and central China and distributing 6% of China crude oil imports. The company is well positioned to benefit from the accelerated growth in energy imports and future liberalization of the China oil markets under the WTO agreements Introduction to Circle Oil (plc) Circle Oil is an oil and gas company, which was founded in 2003, and aiming at providing exploration, development and manufacture service for oil-related firms in the sector (Circle Oil: 2009). In order to pursue maximal profit, a clear strategy has been outlined and carried out throughout its development which could be depicted as locating, assessing and confirming licences in new hydrocarbon regions, subsequently Circle attempt to co-operate with other oil and gas firms in manufacturing through negotiation. In addition, Circle Oils share has been traded on AIM of the London Stock Exchange since 2004 (ibid), and its stable upward trend partly reflected the companys constant progression within these years. Its business place mainly involves with MENA area, which stands for Middle East and North Africa (Circle Oil: 2009: 5). Currently it has operated in five countries including Morocco, Egypt, Oman, Tunisia and Namibia. As their strategy stated, Circle is well placed to exploit o pportunities arising from recent industry consolidation and to do business in developing countries (Circle Oil: 2009). Their business activities in those countries might also stimulate local economic development and provide more opportunities for smaller firms to cooperate in the expensive oil industry. Apart from this, MENA area is rich in natural resources including oil and gas, in spite of under development (AAPG: 2003). In terms of performance, Circle Oil has already experienced a series of years excellence (Circle Oil, 2009 p.4). Specifically, in Morocco their six wells campaign had finished in 2009, and five of them have been proven profitable. Furthermore, a new trunk line will be facilitated to enhance its selling. In Tunisia, the completed 2D land seismic programme enables them to analysis-acquired data so that laying a solid foundation for further progress in coming years. In Egypt, Circle continued its success and 10,000 barrels of oil output daily could underpin their confidence significantly. Despite of some delay in Oman and Namibia, the preparation work was conducted properly according to its plan. Based on Circle chairmans statement, a further expansion and development in those countries are expected (Circle Oil, 2009 p.5). At the same time, they would continue to look for suitable projects which in line with their belief and selecting criteria for investment. While for the long run, the company plans to acquire some medium sized reserves. Introduction to Maple Energy PLC Maple energy plc is located in Peru and it is an integrated independent energy company since 1992. Maple mainly focuses on the ethanol project and exploring and producing the crude oil and natural gas. In addition, the main aim of Maple is to ensure its leading position of energy companies in Peru. However, Maple has been admitted to AIM just from 13th July 2007 and also listed in Lima from 21st December 2007. As stated in the Maple annual report from 2007 to 2009, Peru has a significant economic growth in 2007 and 2008, however, in 2009, Perus economic growth has fallen from 9.8% to 0.8%. In particular, Maple has to pay a large amount of deposits to Peru government. The advantage of Perus economic is that it is reported as the lowest inflation country in Latin America. From 2007, Maple planned to increase its cash flow and has set the aim to continue increasing cash flow in the following years. Meanwhile, in 2008, Maple planned to develop its Ethanol Project, which had become the leading company of producing Ethanol in Peru in 2009. Further, Maple was aimed to be the leading company in Peru of energy industry in 2009 and Maple is still working on this aim. Additionally, there are several risks for Maple. Firstly, the fluctuation of ethanol price and market all over the world would affect Maples development. Secondly, the downturn of world economy would affect Perus economy, which would also affect Maple. Thirdly, the policy of government in Peru may affect Maples development and so on. How the Analysis will be conducted To find out which of the three companies discussed above we would choose to invest in several factors will be taken into consideration. Using the balance sheet, income statement and cash flow statement of all three companies, we will analyse the companies financial performance . The first aspect of financial performance that will be analysed is that of profitability. One of the most important aspects that we will analyse will be the Return on Shareholders Funds (ROSF). This is essential for us to know as (ROSF)ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦compares the amount of profit for the period available to the owners with the owners average stake in the business during that same period (Atrill McLaney: 2008: 188). As well as this ratio it is also essential to analyse the Return on Capital Employed (Roce).ROCE will be use as a performance measure as it ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦is a fundamental measure of business performance (Atrill McLaney: 2008: 189). Along with these the operat ing profit margin and gross profit margin will also be used to help assess the profitability of the company. Once the profitability has been assessed liquidity will be assessed. This will be done as liquidity ratios show the ability of the business to meet its short term financial obligations (Atrill McLaney: 2008: 202). The ratios that will be used to analyse the liquidity of our chosen companies will be the current ratio and the acid test ratio. The analysis will then progress to analyse how much the companies are financed by borrowing, commonly known as the Gearing Ratio (Atrill McLaney: 2008). This is important to our analysis as a heavily geared business, a change in operating profit will lead to a proportionately greater change in the ROSF ratio (Atrill McLaney: 2008: 205). The final analysis will be of the investment ratios. To analyse the investment ratios the following will be used : dividend payout ratio, Earnings per share and price/ earning ratios. Along with this rigorous analysis of performance we will also take into consideration where the companies are primarily based and what markets they primarily trade in. This is important, as already briefly discussed above; the economic growth of a countries economy can affect the companys potential for growth and the companies potential for making profit. The laws of different countries may also have positive or negative effects on a companys financial performance. The findings of our analysis for each individual company will be presented, and then we will compare our findings of the individual companies against one another. Once all the relevant financial information has been analysed our findings will be presented within this document. After this our decision on how best to invest our money will be presented drawing upon the financial analysis that we conducted. Our decision will be presented along with any information that led to this decision. The financial ratios will be displa yed in a table with a descriptive results of our analysis presented underneath, that will include what the ratios shw us and the reasons behind why we chose to invest or not invest in that particular company. Our financial analysis will begin with Fortune Oil PLC. Fortune oils ratios and descriptive analysis 2007 2008 2009 ROSF ROCE 10.41 % 10.15 % 12.4% OPERATING PROFIT MARGIN 13.3% 13.3% 10.05% GROSS PROFIT MARGIN 14.93% 14.59% 18.23% CURRENT RATIO 1.75 1.65 1.19 ACID TEST RATIO 1.7 1.57 1.1 GEARING 31.68% 21 % 13.37% EARNINGS PER SHARE 0.25 pence O.49 pence 0.47 PRICE / EARNINGS RATIO The financial ratios that can be deduced from Fortune oils financial statements are very interesting. What can be noted from all of the ratios presented is that they are all positive, this is very important especially as the oil and energy industry can be very volatile and unpredictable. (Refe rence) Ratios Of Profitability ROSF ROCE- when analysing the return on capital employed a similar trend can be noticed to that of the operating profit margin and the gross profit margin. The year 2008 shows a dip however the ROCE then increases in the year 2009. This dip can be seen to be the result current liabilities having a bigger % increase then the operating profit. However in 2009 the operating profit dramatically increases and represents the 1.89% increase in the return on capital employed Overall this financial ratio is very positive and reflects Fortune oils good financial performance in general. The gross profit margin shows Fortune oils increasing revenue, there is a slight decrease in 2008 from 2007, however in 2009 there is a big increase from both the years 2007 and 2008. The gross profit margin shows an increase in revenue. The gross profit does not take into account other expenses that will affect the business hence there is the operating profit and n et profit. However the gross profit margin is still a useful ratio. The dramatic increase in 2009 can be explained by a dramatic increase of sails through gas (Fortune Oil: 2009). Operating Profit margin Fortune Oil has a healthy operating profit margin, although it steadily decreases over the three years analysed. This is due to increases in costs of operation over the three years due to the expanding operations of Fortune Oil. Ratios Of liquidity Current Ratio In 2007 Fortune Oil had a very healthy Current Ratio, however through the years 2008 and 2009 this can be seen to decline quite dramatically. Although in 2009 the current ratio was still at a good level this decrease over the three years is of concern. The decreasing of the current ratio is a result of both an increase in current liabilities and a decrease in current assets over the three years. Acid Test- the acid test ratios follow a similar pattern and can be explained by the same reasons as the current rati o. However the acid test ratio is also affected by the amount of inventories held by a company. From 2008 2009 the proportion of Fortune Oils current assets that were made up of inventories increased (Fortune Oil: 2009) Gearing Ratio The gearing ratio represents the ratio between the level of investment and the level of borrowings (Atrill McLaney: 2008). Although Fortune oils gearing ratio decreases over the three years due to increased amounts of borrowing, the gearing levels for all three years are healthy. The increase in borrowings are due to the expanding operations of Fortune oil and the investment in exploratory projects which in the coming years should generate a healthy amount of revenue for Fortune Oil (Fortune Oil: 2007: 2008: 2009) Investment Ratios The earnings per share follows a slightly strange pattern after a dramatic increase in 2008 form 2007 the earnings per share drops very slightly in 2009. This is an affect of the increase in Fortune Oils net pr ofits over the years, and the slight decrease can be seen by as light increase in the number of ordinary shares in issue Explanations for ratios The oil and gas industry can be extremely volatile (Reference) bearing this in mind Fortune Oils ratios are impressive. The slight decreases that are seen in some of the ratios such as the operating profit margin and the current ratio are a result of Fortune oil dealing with the severe recession that affected the business environment. The increase of current liabilities between 2007 2009 is an affect of this. The dramatic increase in the gross profit margin reflects Fortune Oil bouncing back from the recession with record sales and a buoyant Chinese economy (Fortune Oil: 2009). After an extremely volatile 2008 the economic environment was stable and this was reflected in stable energy prices (Fortune Oil: 2009). Fortune oil survived the economic recession with healthy financial ratios and managed to produce Fortune oils best revenues and net profits in the year 2009. The future also looks bright for Fortune oil with new development projects having been certified by the Chinese Government, Fortune oil can push forward their exploratory projects such as their operation in Liulin and joint partnerships with other companies. The alliance Fortune Oil has with the Chinese Government is extremely important for future success of the company and has enabled them to gain certification for operations that have generated significant amounts of income (Fortune oil: 2007: 2008: 2009) After surviving and moving out of the recessions with healthy financial statements and ratios 2010 could be an extremely profitable year for Fortune Oil and a chance to build upon their success of the last three years. Circle Oil Ratios and descriptive analysis 2007 2008 2009 ROSF ROCE -7.7% -18.3% -0.29% OPERATING PROFIT MARGIN NO REVENUE NO REVENUE -2.28% GROSS PROFIT MARGIN NO REVENUE NO REVENUE 48.84% CURRENT RATIO 3.37 3.16 2.4 ACID TEST 3.7 3.16 2.4 GEARING 59.6% 26.2% 31% EARNINGS PER SHARE LOS SPER SHARE 1.68c Loss per share 4.60 Loss per share 3.66c For the past three years (2007-2009) Circle oil company has been facing loss.According to the circle oil company s ratios , there is no return on ordinary share holders funds(ROSF) for the year 2007-2009.ROSF compares the amount of profit available to the owners with the owners average stake in the business during that same period(Atrill McLaney:2008:p188).For the money invested in the company in the year 2007 ,there s an operating loss . So return on capital employed (ROCE) is about -7.7 % .In the following year 2008, company faced a decrease in operating loss at about -18.3% and in year 2009 it went down to -0.29%. For the year 2007 and 2009 no revenue was obtained which lead to a loss whereas in the year 2009 ,cost of sales was about 15,093 US$.So the operati ng profit margin was about -2.28% which relates the operating profit to the sales revenue and the company recovered with the gross profit margin at about 48.84% which is a difference between sales revenue and cost of sales. Circle oil company is under debt as it has borrowed convertible loan.For the past three years there were no dividends which lead to a major loss and the money invested was not recovered by the shareholders Liquidity Ratios analysis The ratio of liquidity normally consists of current ratio and acid test ratio, and both of them have function of testing whether a company has capability of paying off short-term liabilities (Atrill McLaney, 2008). In this case, generally Circle Oil had a fantastic performance in liquidity ratios in successive three years as shown in the table above (Table 1). Specifically, in terms of current ratio Circle Oil had figures of 3.37, 3.16 and 2.4 from 2007 to 2009 respectively. Although the trend of downturn had been shown in thi s case, each of them, by comparing with benchmark of 2, could be labeled very high (Atrill McLaney, 2008). Similarly, the acid test ratio had nearly identical performance here, mainly because the three years inventories (excluding part) are extremely small that can barely make contribution in calculating of acid test ratios. Theoretically, the data had been revealed above should be encouraging for not only the company but also stakeholders. However, through carefully examining the detail of annual report, it had considerable amount of cash and cash equivalents in hand in all three years, and these may be problematic in terms of running business productively (Atrill McLaney, 2008). In addition, it is reasonable for us to imply that this result may have something to do with its business undergoing in recent years. According to chairmans statement (Circle Oil, 2009), Circle Oil has just changed from an oil explorative company to an oil production company, and everything relating to production is still in the preparatory phase, namely acquiring licenses, testing wells etc. Obviously, this explanation is in line with their data, but their performance in the future is questionable. Gearing ratio analysis As to gearing ratio, it enables analysts to work out how much proportion the long-term liabilities accounting for in businesss equity (Atrill McLaney, 2008). Ideally, the proportion of long-term liabilities should be limited within a specific range that firms can have some control over it as the more non-current liabilities possess, the more risk the company would have in future (ibid). In the context of Circle Oil, it had rather high figure of 59.6% in 2007 and reasonable one in 2008 with 26.2%. Finally the number bounced back a bit to 31% in 2009. The reason for having a abnormal gearing ratio in 2007 lies in the share premium in that year was much less than following two years by comparison. What is also worth mentioning is that base on Atrill McLaney (2008), if a highly geared firm has even some minor change in operating profit, the effect of returning to shareholders would be significant. It is not difficult to find out that the relationship between gearing ratio and operating profit at Circle Oil is direct proportion during that three years. Investment Ratio analysis Investment ratios are designed to help investors assess the returns on their investment (Atrill McLaney, 2008). In the case of Circle Oil, since there were not dividends announced for 2007, 2008 and 2009 (Circle Oil, 2001-2009), which might result from no profit generation, the two dividend-related ratios cannot be calculated. From this point, it is obvious that the company did not perform well in terms of giving benefits back to their investors in recent years. However, the earning per share ratio tells again that Circle Oil had some difficulties in generating profits for its shareholders. Specifically, in 2007 the loss per share stood at only 1.68c, while in 2008 this figure went up to 4.60, even though it had dropped down to 3.66 in 2009 (Table1), these information altogether convinced that the company may be a wrong place for investor to put their money in, at least for those three years. At the same time, it is also important to take the companys situation into account, meaning it is a new oil business and a number of gas and oil wells are still under testing and may have potential to be profitable source in the future. Therefore, this company may be a choice for people who intend to invest for a long haul. Maple Energy ratios and descriptive analysis 2007 2008 2009 ROSF -1.75% -5.33% -22.73% ROCE -0.74% -3.5% -6.97% OPERATING PROFIT MARGIN -1.2% -5.59% -14.3% GROSS PROFT MARGIN 26.62% 22.67% 24.1% CURRENT RATIO 3.27 1.56 0.63 ACID TEST 3.06 1.05 0.51 GEARING 13.5% 12.98% 17.89 EARNING PER SHARE LOSS PER SHARE 3.38 LOSS PER SH ARE 7.90 LOSS PER SHARE 26.06 The ratio analysis of Maple Energy Plc. The ratio analysis of Maple Energy Plc. This part will analyze Maples performance through profitability, liquidity, gearing, efficiency and investment ratios which are established from its annual financial report from 2007 to 2009. Profitability 2007 2008 2009 ROSF -1.75% -5.33% -22.73% ROCE -0.74% -3.5% -6.97% OPERATING PROFIT MARGIN -1.2% -5.59% -14.3% GROSS PROFIT MARGIN 26.62% 22.67% 24.1% The profitability ratios show the ability to make profits of a firm and the degree of success (Atrill McLaney, 2008). From the table above, the profitability ratios reveal main downfalls through the last three years. First, the return on capital employed ratio figures illustrate a steady decline in returns to all suppliers. In particular, the figures are negative because the operating profits of the three years are all negative. From 2007 to 20 09, the operating expenses were exceeding the gross profit although the company has got a large amount of gross profit. These ratios show a poor performance of Maple from 2007 to 2009. Consequently, this company has to pay not only its borrowed funds, but also the interests on the borrowed funds. Particularly, this is awful information for suppliers of long-term finance. Second, the return on ordinary shareholders funds ratios show a sharp decline in relation to the companys profit which were left to the owner. The figures are negative as well because the operating profit was already negative and the finance cost was exceeding the finance revenue. In particular, by 2009, loss for the year was almost three times than the loss for 2008. From the annual report for Maple Energy Plc, it is clearly that the finance cost has a rapid increase until 2009. As Atrill McLaney (2008) emphasized that companies are seeking as high as possible for return on ordinary shareholders funds ratio. Th ese negative ratios imply that Maple seems not possible to take some new businesses, such as a new investment. In addition, their negative profit for the year was a threat to their shareholders. Furthermore, a sharp decline of the operating profit margin ratios reveals that the company has a very poor performance for operating profit. For oil and energy companies, they tend to operate on high prices, thus compared to these negative ratios, Maples expenses were extremely higher than gross profit. Maple needs to either increase the sales revenue to exceed its cost or to reduce its operating expenses. Finally, for the gross profit margin ratios, they have a slight decline from 2007 to 2009. However, these figures are positive which means that the turnover is exceeding the cost of sales. Although the gross profit margin ratios have declined, from 2008 to 2009, both of the sales revenue and cost of sales have reduced. This means that the gross profit was still high related to the t urnover for Maple. Below is the graph to show the profitability ratios of Maple from 2007 to 2009 Liquidity ratios Liquidity determines the ability of a company to meet their immediate financial obligations (Atrill McLaney, 2008). When choosing an investment of the period less than 5 years, whether the company has the possibility to give back their trade payables and short-term obligations should be in consideration. The ratios used to measure the companys liquidity are the current ratio and the acid test ratio. 2007 2008 2009 CURRENT RATIO 3.27 1.56 0.63 ACID TEST 3.06 1.05 0.51 Maple Energys current ratios reveal the dramatically decreasing trend of the ability to pay off the short-term debts from the year 2007 to 2009. In the year 2007 the company had the highest amount of $ 34.34 million dollars cash at bank and in hand, but in the year 2008 and 2009 the amount has significantly dropped to 8.54 and 5.38 million dollars respectively( londonstockexchange, 2010). Moreover, the current liability has gone up triple for the year 2009. The acid test ratios from the year 2007 to 2009 are hardly different from the current ratios. The ratio has significantly dropped in the past 3 years, suggesting that 2009s liquidity is the main problem as the company has less than 70 cents to cover every $1 invested in the company. Graph for the trends of Liquidity ratios from 2007 to 2009 Gearing 2007 2008 2009 GEARING 13.5% 12.98% 17.89% INTEREST COVER -6 19.1 6.1 As Atrill McLaney (2008) stated, financial gearing is essential to evaluate the risk of business and the relationship between long-term loans and capitals. From the table above, the gearing ratio figures demonstrate a slight increase from 2007 to 2009. By 2009, the gearing ratio has increased to 17.89%, which could be considered as an acceptable figure. However, it seems that Maple could still increase its investment on loans, w hich could contribute to the long-term lenders and return to shareholders capital. In addition, from the balance for Maple, the reserves from 2007 to 2009 have not increased, which indicates that the low reserves are a potential risks for Maples business. Additionally, the interest cover ratios show an instable trend from 2007 to 2009. Due to the negative operating profit all three years, the operating profit could not cover the interest payable. As a consequence, it is an enormous risk for the shareholders of Maple that the lenders will try to recover their outstanding of interest by crack down on the business, especially by 2009, there was a large amount of operating losses. Efficiency ratios The Sales Revenue to Capital employed ratio is a main factor of the Return on Capital employed ratio, and the table mentioned below indicates the efficiency of the company by the usage of its assets generating sales revenues. Maple Energy 2007 2008 2009 Sales Revenue T o Capital Employed 0.61 0.63 0.49 Return on Capital Employed -0.74% -3.5% -6.97% There is a fluctuation of the sales revenue to capital employed, in the year 2008 the ratio slightly went up to 0.63. But then the ratio went down to 0.49 in the year 2009. Moreover, the company is still unable to provide the return to the shareholders as the return on capital employed has dramatically dropped down to -6.97% in 2009. The decline in ROCE due to the increase in the amount of operating loss, also suggesting the poor performance of the company. Earnings per share The earnings per share ratio are essential to examine the share performance of Maple energy. As shown in the graph above, the earnings per share ratio figures illustrate a sharp decline from 2007 to 2009. In particular, for the share performance, Maple was making loss all three years. Due to the fast increase of loss per share every year, there is a big risk that the shareholders or potential investors are not possible to invest into Maple. It is important for Maple to improve their operating profit and net profit. All in all, Maple has to reduce its cost and expenses to make its profit to be positive.