what is the meaning of following code ?

what is the meaning of following code ?

can any one explain me meaning of this code please..........


 protected void btnSubmit_Click(object sender, EventArgs e)
    {
        string strSelectedItems = string.Empty;
        foreach (var ctrl in Panel1.Controls)
        { 
            if (ctrl is CheckBox)
            {
                CheckBox chk = (CheckBox)ctrl;
                if (chk.Checked == true)
                {
                    strSelectedItems += chk.Text + ",";
                }
            }
        }
        strSelectedItems = strSelectedItems.Remove(strSelectedItems.Length - 1, 1);
        Label1.Text = "Selected Options Are : " + strSelectedItems;
    }


Thanks