-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VxUD+G60nQhG9QwNUbL5Na6v/ewK3VC+U2j1hhC3mxkYKiBEec7PuoPaBEEgG1Xr H/vT+bYz7CcQJrB4YJSDbw== 0001026710-07-000006.txt : 20070709 0001026710-07-000006.hdr.sgml : 20070709 20070709143740 ACCESSION NUMBER: 0001026710-07-000006 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070630 FILED AS OF DATE: 20070709 DATE AS OF CHANGE: 20070709 EFFECTIVENESS DATE: 20070709 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GRANAHAN INVESTMENT MANAGEMENT INC/MA CENTRAL INDEX KEY: 0001026710 IRS NUMBER: 042856200 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-05876 FILM NUMBER: 07969224 BUSINESS ADDRESS: STREET 1: 275 WYMAN STREET STREET 2: SUITE 270 CITY: WALTHAM STATE: MA ZIP: 02451 BUSINESS PHONE: 7818904412 MAIL ADDRESS: STREET 1: 275 WYMAN ST STREET 2: STE 270 CITY: WALTHAM STATE: MA ZIP: 02451 13F-HR 1 gim13f0706.txt 13F FILING FOR GRANAHAN INVESTMENT FOR Q2, 2007 FORM 13F INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT TO SECTION 13 (f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER Securities and Exchange Commission Washington, D.C. 20524 Report of the Calendar Quarter Ending June 30, 2007 If amended report check here: Name of Institutional Investment Manager: Granahan Investment Management, Inc. S.E.C. File Number 28-5876 Business Address: 275 Wyman Street Suite 270 Waltham MA 02451 Street Suite Number City State Zip Name, Phone no. and Title of Person Duly Authorized to Submit this Report: Jane M. White, Executive Vice President (781)890-4412 ATTENTION - Intentional misstatements or omissions of facts constitute Federal Criminal Violations. Sec 18 U.S.C. 1991 and 15 U.S.C. 78 ff(a). The institutional investment manager submitting this Form and its attachments and the person by whom it is signed represent hereby that all information contained therein is true, correct and complete. It is understood that all required items, statements and schedules are considered integral parts of this Form and that the submission of any amendment represents that all unamended items, statements and schedules remain true, correct and complete as previously submitted. Pursuant to the requirements of Securities Exchange Act of 1934, the undersigned institutional investment manager has caused this report to be signed on its behalf in the City of Waltham and State of Massachusetts on the 9th day of July, 2007. Granahan Investment Management, Inc. Name of Institutional Investment Mgr. By: Jane M. White Executive Vice President FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AARON RENTS INC COM 002535201 22558 772550 SH SOLE 152410 620140 ACME PACKET COM 004764106 2231 194150 SH SOLE 40800 153350 ACORDA THERAPEUTICS COM 00484M106 2958 173400 SH SOLE 26900 146500 ADOLOR COM 00724X102 4313 1162500 SH SOLE 198100 964400 ADV MAGNETICS COM 00753P103 8774 150858 SH SOLE 32368 118490 ADVANCE AUTO PARTS COM 00751Y106 24225 597700 SH SOLE 86500 511200 ADVISORY BOARD COM 00762W107 42397 763077 SH SOLE 117062 646015 AEROPOSTALE COM 007865108 18068 433500 SH SOLE 57600 375900 AFFILIATED MANAGERS G COM 008252108 21632 168000 SH SOLE 25200 142800 AFFYMETRIX COM 00826T108 18208 731520 SH SOLE 119350 612170 AKAMAI COM 00971T101 29163 599560 SH SOLE 107550 492010 ALBANY INT'L COM 012348108 38232 945390 SH SOLE 167000 778390 ALIGN TECHNOLOGY COM 016255101 62186 2573910 SH SOLE 452450 2121460 ALKERMES COM 01642T108 35733 2447450 SH SOLE 442700 2004750 ALNYLAM PHARMA COM 02043Q107 4176 274900 SH SOLE 33100 241800 AMN HEALTHCARE COM 001744101 11554 525200 SH SOLE 74300 450900 ANGIO DYNAMICS COM 03475V101 6878 381890 SH SOLE 76420 305470 APAC CUSTOMER SERVICES COM 00185E106 1424 586113 SH SOLE 149700 436413 APTARGROUP COM 038336103 90029 2531760 SH SOLE 374950 2156810 ARCH CHECMICAL COM 03937R102 1072 30500 SH SOLE 30500 ARENA PHARMACEUTICAL COM 040047102 8112 738100 SH SOLE 81800 656300 ARIBA COM 04033V203 34371 3468288 SH SOLE 426174 3042114 AXCAN PHARMA COM 054923107 36327 1879300 SH SOLE 339850 1539450 BASIN WATER COM 07011T306 2797 321450 SH SOLE 58900 262550 BAUSCH & LOMB COM 071707103 21570 310628 SH SOLE 38528 272100 BEACON ROOFING SUPPLY COM 073685109 599 35250 SH SOLE 35250 BIOCRYST PHARMA COM 09058V103 1440 186350 SH SOLE 186350 BIOENVISION COM 09059N100 2596 449099 SH SOLE 148079 301020 BIOLASE TECHNOLOGY COM 090911108 2902 478100 SH SOLE 161000 317100 BOOKHAM COM 09856E105 10153 4512250 SH SOLE 616500 3895750 BRUKER BIOSCIENCES COM 116794108 16967 1883100 SH SOLE 364700 1518400 BTU INTERNATIONAL COM 056032105 3153 228620 SH SOLE 50200 178420 BUFFALO WILD WINGS COM 119848109 2246 54000 SH SOLE 54000 BUILD A BEAR WORKSHOP COM 120076104 11185 427900 SH SOLE 59700 368200 CADENCE DESIGN COM 127387108 51858 2361493 SH SOLE 393413 1968080 CALLAWAY GOLF COM 131193104 18133 1018150 SH SOLE 195250 822900 CARBO CERAMICS COM 140781105 26479 604410 SH SOLE 96910 507500 CASH AMERICA COM 14754D100 42428 1070051 SH SOLE 178739 891312 CASUAL MALE COM 148711104 12066 1194700 SH SOLE 147500 1047200 CELADON GROUP COM 150838100 3108 195500 SH SOLE 195500 CELL GENESYS INC COM 150921104 5980 1784927 SH SOLE 240727 1544200 CENTRAL GARDEN & PET COM 153527106 14177 1156370 SH SOLE 238000 918370 CEPHALON COM 156708109 44184 549626 SH SOLE 82626 467000 CEPHEID COM 15670R107 5711 391148 SH SOLE 135040 256108 CHIC. BRIDGE & IRON COM 167250109 46261 1225770 SH SOLE 202000 1023770 CIENA COM 171779309 63663 1762066 SH SOLE 275073 1486993 CITY NAT'L CORP COM 178566105 692 9100 SH SOLE 9100 CLARIENT COM 180489106 80 39500 SH SOLE 39500 COLOR KINETICS COM 19624P100 35572 1064700 SH SOLE 167800 896900 COLUMBIA SPORTSW COM 198516106 26339 383500 SH SOLE 55800 327700 COMFORT SYSTEMS COM 199908104 10231 721480 SH SOLE 136350 585130 CONCEPTUS COM 206016107 6351 327870 SH SOLE 83900 243970 CONCUR TECHN COM 206708109 19168 838846 SH SOLE 163916 674930 COSI INC COM 22122P101 3888 852690 SH SOLE 258200 594490 CROCS INC COM 227046109 19565 455000 SH SOLE 86800 368200 CULLEN FROST COM 229899109 25408 475180 SH SOLE 70550 404630 CV THERAPEUTICS COM 126667104 10219 773613 SH SOLE 135873 637740 CYBERONICS COM 23251P102 22780 1354320 SH SOLE 251350 1102970 CYMER COM 232572107 22799 567150 SH SOLE 85250 481900 CYPRESS BIOSCIENCES COM 232674507 15253 1150300 SH SOLE 149300 1001000 CYTOKINETICS COM 23282W100 8185 1448750 SH SOLE 153151 1295599 DENTSPLY COM 249030107 30522 797746 SH SOLE 119346 678400 DEPOMED COM 249908104 2984 625500 SH SOLE 625500 DIOMED COM 25454R207 70 61820 SH SOLE 61820 DOLLAR TREE STORES COM 256747106 15408 353800 SH SOLE 45000 308800 DONALDSON COM 257651109 76981 2165416 SH SOLE 345546 1819870 DSP GROUP COM 23332B106 1828 89300 SH SOLE 89300 DSW SHOE WAREHOUSE COM 23334L102 14812 425390 SH SOLE 53850 371540 DUN & BRADSTREET COM 26483E100 80532 782018 SH SOLE 119978 662040 DURECT CORP COM 266605104 11516 2991200 SH SOLE 293500 2697700 DYAX CORP COM 26746E103 571 136250 SH SOLE 136250 DYNAVAX COM 268158102 470 113250 SH SOLE 113250 EDWARDS LIFESCIENCES COM 28176E108 15533 314818 SH SOLE 47218 267600 EFJ INC COM 26843B101 2517 467050 SH SOLE 185750 281300 ENTEGRIS COM 29362U104 31486 2650360 SH SOLE 413450 2236910 EQUITY INNS COM 294703103 26965 1203790 SH SOLE 235450 968340 EURONET COM 298736109 41575 1425750 SH SOLE 240150 1185600 EXELIXIS INC COM 30161Q104 19206 1587300 SH SOLE 190600 1396700 EXFO ELECTRO-OPTICAL ENGINEERI COM 302043104 1398 200330 SH SOLE 200330 EXPONENT COM 30214U102 805 36000 SH SOLE 36000 FEI COMPANY COM 30241L109 6700 206400 SH SOLE 49400 157000 FIRST CASH FINANCIAL COM 31942D107 15104 644348 SH SOLE 83248 561100 FUEL SYSTEMS SOLUTIONS COM 35952W103 696 42000 SH SOLE 42000 GAMESTOP CORP COM 36467W109 24668 630900 SH SOLE 124000 506900 GENLYTE COM 372302109 9763 124300 SH SOLE 16300 108000 GUIDANCE SOFTWARE COM 401692108 2591 183750 SH SOLE 39500 144250 HAEMONETICS COM 405024100 25792 490250 SH SOLE 84550 405700 HARRIS & HARRIS COM 413833104 1591 142030 SH SOLE 142030 HARRIS STRATEX NETWORKS COM 41457P106 25705 1429645 SH SOLE 220791 1208854 HARTE HANKS INC COM 416196103 580 22580 SH SOLE 22580 HEALTHCARE SVCS COM 421906108 36382 1233275 SH SOLE 176150 1057125 HEALTHWAYS INC COM 422245100 19940 420944 SH SOLE 77494 343450 HEARTLAND EXPR COM 422347104 25317 1553175 SH SOLE 279821 1273354 HEARTLAND PAYMENT SYSTEMS COM 42235N108 39635 1351350 SH SOLE 235300 1116050 HELEN OF TROY COM G4388N106 25430 941860 SH SOLE 139950 801910 HELIX ENERGY SOLUTIONS COM 42330P107 22365 560394 SH SOLE 79514 480880 HENRY SCHEIN COM 806407102 39487 739046 SH SOLE 124566 614480 HIBBETT SPORTS COM 428567101 16659 608433 SH SOLE 92800 515633 HIGHLAND HOSP. COM 430141101 4130 215100 SH SOLE 215100 HLTH CORP COM 40422Y101 17556 1253110 SH SOLE 188210 1064900 HORIZON LINES COM 44044K101 29115 888750 SH SOLE 136350 752400 HUMAN GENOME COM 444903108 17883 2004831 SH SOLE 365721 1639110 HURON CONSULTING COM 447462102 11340 155325 SH SOLE 20500 134825 HUTCHINSON TECH COM 448407106 22761 1210040 SH SOLE 185350 1024690 I-TRAX COM 45069D203 4280 1028850 SH SOLE 274350 754500 ICONIX BRAND GROUP COM 451055107 21562 970400 SH SOLE 200050 770350 ID SYSTEMS COM 449489103 367 28500 SH SOLE 28500 IDEXX LABORATORIES COM 45168D104 63192 667777 SH SOLE 95852 571925 IHS INC COM 451734107 984 21390 SH SOLE 21390 ILLUMINA COM 452327109 4841 119270 SH SOLE 23500 95770 IMMUNOGEN COM 45253H101 10340 1863151 SH SOLE 227051 1636100 IMPAX LABS COM 45256B101 9431 785927 SH SOLE 120127 665800 INFORMATICA COM 45666Q102 734 49700 SH SOLE 49700 INSPIRE PHARMACEUTICALS COM 457733103 1157 183000 SH SOLE 183000 INTEGRATED DEVICE TECHNOLOGY COM 458118106 23762 1556100 SH SOLE 220400 1335700 INTEROIL CORP COM 460951106 4182 220800 SH SOLE 27300 193500 INTERSIL COM 46069S109 25857 821900 SH SOLE 123500 698400 IOMAI CORP COM 46202P103 667 366700 SH SOLE 366700 ISIS PHARMACEUTICALS COM 464330109 21883 2260649 SH SOLE 300700 1959949 ITT EDUCATIONAL SERVICES COM 45068B109 12583 107200 SH SOLE 12800 94400 JEFFERIES GROUP COM 472319102 42824 1587234 SH SOLE 261494 1325740 KENEXA COM 488879107 22281 590850 SH SOLE 89950 500900 KEYSTONE AUTOMOTIVE COM 49338N109 11944 288700 SH SOLE 29600 259100 KING PHARMA COM 495582108 14727 719800 SH SOLE 105500 614300 KNIGHT TRANS COM 499064103 25757 1329075 SH SOLE 199575 1129500 LA JOLLA PHARMACEUTICAL COM 503459307 2496 557150 SH SOLE 106350 450800 LAMAR AD COM 512815101 37783 602022 SH SOLE 88022 514000 LIFE TIME FITNESS COM 53217R207 10619 199500 SH SOLE 26600 172900 LIFECELL CORP COM 531927101 3088 101120 SH SOLE 32700 68420 LITHIA MOTORS COM 536797103 21934 865590 SH SOLE 131600 733990 LITTELFUSE COM 537008104 29310 867940 SH SOLE 115000 752940 LUMINEX CORP COM 55027E102 10320 838340 SH SOLE 163950 674390 MARCHEX INC COM 56624R108 21483 1316361 SH SOLE 230341 1086020 MARINEMAX INC COM 567908108 2830 141350 SH SOLE 141350 MASTEC COM 576323109 13985 884000 SH SOLE 112400 771600 MCGRATH RENT COM 580589109 39260 1165324 SH SOLE 174850 990474 MEDAREX COM 583916101 51005 3569310 SH SOLE 605400 2963910 MEMORY PHARMACEUTICALS COM 58606R403 35 14900 SH SOLE 14900 METTLER TOLEDO COM 592688105 25416 266104 SH SOLE 39904 226200 MHI HOSPITALITY COM 55302L102 2614 246650 SH SOLE 246650 MICROSEMI COM 595137100 46444 1939200 SH SOLE 313400 1625800 MIDDLEBY COM 596278101 10911 182400 SH SOLE 22800 159600 MOBILE MINI COM 60740F105 21690 742820 SH SOLE 113500 629320 MONRO MUFFLER COM 610236101 5936 158505 SH SOLE 45550 112955 MPS GROUP COM 553409103 11879 888470 SH SOLE 108300 780170 MRV COMMUNICATIONS COM 553477100 17395 5352200 SH SOLE 863800 4488400 MSC INDUSTRIAL COM 553530106 31181 566930 SH SOLE 87200 479730 MWI VETERINARY SUPPLY COM 55402X105 21150 530203 SH SOLE 74250 455953 NATUS MEDICAL COM 639050103 6596 414340 SH SOLE 121850 292490 NAUTILUS GROUP COM 63910B102 14694 1220400 SH SOLE 231750 988650 NCI BUILDING SYSTEMS COM 628852105 20953 424750 SH SOLE 60700 364050 NEKTAR COM 640268108 26132 2753680 SH SOLE 434050 2319630 NESS TECHNOLOGY COM 64104X108 5563 427610 SH SOLE 427610 NEUROGEN COM 64124E106 618 93000 SH SOLE 93000 NEXTEST SYSTEMS CORP COM 653339101 7305 534370 SH SOLE 135550 398820 NOVEN PHARMA COM 670009109 18397 784502 SH SOLE 87802 696700 NTELOS COM 67020Q107 12170 440300 SH SOLE 84600 355700 NUVELO COM 67072M301 6637 2440069 SH SOLE 302369 2137700 O CHARLEYS COM 670823103 11197 555400 SH SOLE 70300 485100 O'REILLY AUTO COM 686091109 56359 1541957 SH SOLE 225157 1316800 ORMAT TECHNOLOGIES COM 686688102 5543 147100 SH SOLE 17800 129300 ORTHOVITA COM 68750U102 1021 340200 SH SOLE 340200 PDL BIOPHARMA COM 69329Y104 38793 1664940 SH SOLE 309600 1355340 PERICOM SEMICONDUCTOR COM 713831105 3837 343800 SH SOLE 343800 PHARMA PRODUCT DEV COM 717124101 18125 473600 SH SOLE 71300 402300 PHC INC COM 693315103 48 15900 SH SOLE 15900 PHILLIPS VAN HEUSEN CP COM 718592108 37055 611772 SH SOLE 95727 516045 PHOENIX COS. COM 71902E109 8812 587100 SH SOLE 83900 503200 PINNACLE FINANC'L PTNRS COM 72346Q104 665 22660 SH SOLE 22660 PLX TECHNOLOGY COM 693417107 4775 427875 SH SOLE 84800 343075 PREMIER EXHIBITIONS COM 74051E102 5234 332100 SH SOLE 100900 231200 PRICELINE.COM COM 741503403 41232 599831 SH SOLE 80486 519345 PROS HOLDING COM 74346Y103 2928 223500 SH SOLE 47200 176300 QC HOLDINGS COM 74729T101 14570 971350 SH SOLE 167250 804100 QIAGEN NV COM N72482107 23152 1301400 SH SOLE 190400 1111000 QLT INC COM 746927102 14834 2004588 SH SOLE 257688 1746900 QUIKSILVER COM 74838C106 30688 2171850 SH SOLE 333850 1838000 RADIANT SYSTEMS COM 75025N102 5551 419250 SH SOLE 69500 349750 RADVISION COM M81869105 3633 172730 SH SOLE 83700 89030 RAVEN INDUSTRIES COM 754212108 743 20800 SH SOLE 20800 RBC BEARINGS COM 75524B104 5959 144450 SH SOLE 144450 RED HAT INC COM 756577102 30531 1370333 SH SOLE 222123 1148210 REGENERON COM 75886F107 12048 672300 SH SOLE 98300 574000 RENOVIS INC COM 759885106 66 18400 SH SOLE 18400 RENT-A-CENTER COM 76009N100 44549 1698400 SH SOLE 263600 1434800 REPLIGEN COM 759916109 97 24900 SH SOLE 24900 RESOURCES CONN. COM 76122Q105 342 10300 SH SOLE 10300 RF MICRO DEVICES COM 749941100 19966 3199600 SH SOLE 438200 2761400 RIGEL PHARMACEUTICALS COM 766559603 10393 1166450 SH SOLE 170500 995950 RIVERBED TECHNOLOGY COM 768573107 29083 663700 SH SOLE 103350 560350 SAFEGUARD SCIENTIFICS COM 786449108 55 19600 SH SOLE 19600 SAKS INC COM 79377W108 12767 598000 SH SOLE 61300 536700 SALESFORCE.COM COM 79466L302 24696 576200 SH SOLE 83700 492500 SEATTLE GENETICS COM 812578102 23106 2355304 SH SOLE 367500 1987804 SEI INVESTMENTS COM 784117103 290 10000 SH SOLE 10000 SIRENZA MICRODEVICES COM 82966T106 24935 2100650 SH SOLE 358500 1742150 SMITH AND WESSON COM 831756101 18180 1085400 SH SOLE 200900 884500 SOMANETICS COM 834445405 582 31800 SH SOLE 31800 SONIC SOLUTIONS COM 835460106 14749 1169631 SH SOLE 142671 1026960 SOURCE FORGE COM 83616W101 2971 704050 SH SOLE 227200 476850 ST MARY LAND&EX COM 792228108 31938 872150 SH SOLE 137800 734350 STERICYCLE COM 858912108 47718 1073270 SH SOLE 160700 912570 STRAYER EDUCATION COM 863236105 10063 76400 SH SOLE 10000 66400 SUN HEALTHCARE COM 866933401 8143 562000 SH SOLE 81400 480600 SYCAMORE NTWKS COM 871206108 23424 5826800 SH SOLE 745600 5081200 TALEO COM 87424N104 5300 235250 SH SOLE 49450 185800 TERCICA COM 88078L105 3823 749700 SH SOLE 282900 466800 TEXAS ROADHOUSE COM 882681109 17603 1376290 SH SOLE 210450 1165840 THE KNOT INC COM 499184109 3751 185800 SH SOLE 24800 161000 THESTREET.COM COM 88368Q103 2358 216700 SH SOLE 51700 165000 THIRD WAVE TECHNOLOGIES COM 88428W108 70 11900 SH SOLE 11900 TRIMBLE NAV COM 896239100 42611 1323320 SH SOLE 213100 1110220 U-STORE-IT TRUST COM 91274F104 24642 1503500 SH SOLE 225600 1277900 ULTICOM COM 903844108 7937 901889 SH SOLE 110069 791820 ULTIMATE SOFTWARE GROUP COM 90385D107 13594 469900 SH SOLE 43400 426500 UNIVERSAL COMPRESSION HOLDINGS COM 913431102 7435 102600 SH SOLE 12500 90100 VALUECLICK COM 92046N102 14969 508100 SH SOLE 95100 413000 VARIAN SEMICONDUCTOR COM 922207105 44704 1115929 SH SOLE 181016 934913 VASCO DATA SECURITY COM 92230Y104 8115 356530 SH SOLE 96400 260130 VERENIUM CORP COM 92340P100 5854 1154571 SH SOLE 166100 988471 VERIFONE HOLDINGS COM 92342Y109 49563 1406050 SH SOLE 178600 1227450 VERIGY COM Y93691106 13610 475700 SH SOLE 66700 409000 VERTEX PHARM COM 92532F100 7580 265400 SH SOLE 32953 232447 VIACELL COM 92554J105 863 156000 SH SOLE 156000 VIASAT, INC COM 92552V100 35361 1101590 SH SOLE 155900 945690 VISTAPRINT COM G93762204 26031 680550 SH SOLE 111250 569300 VOCUS COM 92858J108 5266 209700 SH SOLE 31350 178350 WADDELL AND REED FINANCIAL COM 930059100 15393 591800 SH SOLE 75800 516000 WATSCO COM 942622200 46597 856570 SH SOLE 127600 728970 WMS INDUSTRIES INC COM 929297109 8762 303600 SH SOLE 37950 265650 WORLD FUEL SERVICES COM 981475106 18174 432100 SH SOLE 81400 350700 X RITE COM 983857103 1684 114000 SH SOLE 114000 XENOPORT INC COM 98411C100 22095 497413 SH SOLE 70900 426513 XOMA LTD COM G9825R107 4302 1415000 SH SOLE 1415000 icad inc COM 44934S107 61 14800 SH SOLE 14800
Report Summary: Number of Other Included Managers: None Table Entry Total: 235 Table Value $4,042 Million -----END PRIVACY-ENHANCED MESSAGE-----