EquitiesIQ, LLC is a Delaware limited liability company (“EquitiesIQ”, “we” “us” or “our”) and is responsible for the operation of the Site and provision of the Services, as defined below. The following Disclaimers and Terms of Use (the “Terms”) govern the terms and conditions of your use of the EquitiesIQ website at (and all associated sub-domains, the “Site”), access to the EquitiesIQ Research Library and subscription to the EquitiesIQ Intelligence Service and all research reports, communications, press releases, news updates, content, and products made available thereby (the “Reports”), as well the use of all other services or products that may be made available through the Site from time to time (the Reports together with all other such services or products, the “Services”).

By accessing our Reports and using the Services, you agree to be bound by these Terms. Please read these Terms carefully, and contact us if you have any questions. If you do not agree to these Terms, you have no right to continue using the Services. We reserve the right to modify these Terms or other policies relating to the Services on a prospective basis, which will be effective immediately upon posting of an updated version of these Terms on the Site.

EquitiesIQ Receives Compensation From the Companies Featured in our Services.

EquitiesIQ is an organization that produces and publishes informational research and periodic news updates (the Reports) on behalf of our clients, as well as providing other related investor relations services. We receive compensation from these companies (or their affiliates), which may be in the form of cash or equity securities. The amount and type of compensation received from each company we feature in our Reports is fully disclosed in each applicable Report in a manner consistent with our legal obligations under the securities laws.

EquitiesIQ and our affiliates do and seek to do other non-investment banking business with the companies featured in our Reports. EquitiesIQ and our affiliates may have a corporate finance relationship, investor relations consulting relationship, or other business with companies featured in our Reports. The authors of our Reports and affiliated persons and/or entities may also have equity stakes, business relationships, or trade in the stocks of companies mentioned herein. Thus, you should be aware that we and/or our affiliates have certain conflicts of interest that could affect the objectivity of our Reports.

Intellectual Property of EquitiesIQ

All material and content available on the Site, in the Reports or through the Services, unless specifically indicated otherwise or taken from outside sources, is the copyright protected work of EquitiesIQ. By agreeing to these Terms, we grant you a limited, non-exclusive license to use the Reports for your personal informational reading consistent with these Terms, which may include making a limited number of copies for your use (e.g. saving a copy in your own personal files); provided that in no event may you publish or distribute a Report or any portion thereof to any other third-parties. Except as explicitly authorized above, no portion of content of the Site or any Report may be altered in any way, transmitted to, copied, or distributed to any third-party without the express written permission of EquitiesIQ.

Reports Reflect the Personal View of the Authors

The views regarding the companies and securities featured in our Reports accurately reflect the personal views of the applicable author(s) as of the date of such Report. The author(s) of each Report are listed in each Report. These personal views do not necessarily reflect the views of EquitiesIQ or that of any other person or affiliate. Any such views regarding the featured companies and securities are subject to change without notice, including as a result of changes in market conditions or new developments in the marketplace, the featured company, or its competitors. Neither EquitiesIQ nor our affiliates have any, and affirmatively disclaim, any duty or responsibility to update the views expressed in the Reports.

EquitiesIQ is not an Investment Advisor and does not make Investment Recommendations

You agree to use our Reports and Services at your own risk. EquitiesIQ is not a registered investment advisor and neither we nor our affiliates are recommending any investments based on the information provided in our Reports or through our Services. You hereby acknowledge that neither EquitiesIQ nor our affiliates are advising you personally concerning the nature, potential, value or suitability of any particular security. You further acknowledge that you understand it important to do your own research and due diligence and consult with an attorney, tax or investment professional before making any investment decision with respect to securities covered by EquitiesIQ in order to determine if any investment is consistent with your investment objectives, risk tolerance, and financial situation.

Reports are for Informational Purposes Only

Our Reports and Services are provided solely for informational purposes are not an offer or solicitation to buy or sell the securities of any of the companies covered thereby. You hereby acknowledge and agree that our Reports and Services are being provided explicitly on the condition that you not use them as the sole basis to make any investment decision. You further acknowledge that our Reports and Services are not intended to provide specific advice on any matter, nor are they intended to be comprehensive or include all of the available data that may be material to making an investment decision.

EquitiesIQ Relies Upon Third-Party Information and Makes No Representations or Warranties as to the Accuracy or Completeness of this Information

Our Reports are prepared primarily from publically available information and documents, in particular from the public SEC filings of the featured companies, and from third-parties, including conversations with management of the featured companies. All third-party information presented in our Reports is obtained from sources believed to be reliable, however, EquitiesIQ makes no representations or warranties (express or implied) as to its accuracy or completeness.

You acknowledge that neither EquitiesIQ nor our affiliates independently verify the information obtained from third-parties (including public SEC filings and conversation with management of featured companies), and understand that the material in any Report is not intended to be a complete statement or summary of all information that may be material to making an investment decision. Neither EquitiesIQ nor our affiliates have any obligation to update third-party information in our Reports, even if it is discovered that any such information was materially inaccurate or incomplete.

EquitiesIQ Reports May Be Out of Date

All Reports published by EquitiesIQ are presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. From time to time, reference may be made to prior Reports that we have published. These references may be selective and typically reference only a portion of a Report, which is likely not to be current in its entirety. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Forward Looking Statements Are Predictions and Actual Results May Differ

Some of the information in our Reports relates to future business and financial performance of the featured companies. Such statements can only be predictions of the actual events or results and may never occur or be realized.

Forward-looking statements include all statements that are not historical facts and generally may be identified by terms such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” “expect” or the negative or plural of these words or similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described our Reports and in the public SEC filing of the featured companies. It is not possible for EquitiesIQ to predict all risks, nor assess the effect of all factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. You should not rely on forward-looking statements as predictions of future events.

Many of the forward looking statements come directly from the featured company’s publically available filings and we have not attempted (and have no duty to attempt) any efforts verify the reasonableness of such forward-looking statements. EquitiesIQ does not guarantee the accuracy and comprehensiveness of these predictions. You should not invest in the Company in reliance on these forward-looking statements.

Analyst Price Targets or Estimates are Reasonable Predictions and are not Guarantees

Our Reports may include price targets, financial forecasts, projections and estimates based on the good faith and reasonable assumptions and calculations of our analysts and the author(s) of any particular Report (the “Analyst Estimates”). Any Analyst Estimates contained in our Reports are subject to risks that they may not be achieved, including the risks discussed in the Report and those in the featured company’s public SEC filings. The Analyst Estimates and the assumptions and calculations on which Analyst Estimates are based may be materially inaccurate for a number of reasons, which are both known and unknown at the time of making such estimates.

You hereby acknowledge and agree that neither EquitiesIQ nor our affiliates are making any guarantee, representation or warranty that any Analyst Estimates will be realized or are realizable. You further acknowledge that you are aware that the price, value, of any income from any of the securities or financial instruments can fall as well as rise and that there are many factors or events that could materially impact the a company’s ability to realize any financial targets, revenue forecasts or valuations, which are beyond the control of EquitiesIQ. You should not base any investment decision on the Analyst Estimates.

EquitiesIQ is not responsible for Linked or Referenced External Sources

EquitiesIQ may provide addresses of companies, contact information, and URLs/links to company websites. These sites are the property and responsibility of the parties that own them. The contact information is provided solely for your convenience and information and the content of the linked or reference site does not in any way form part of the Site, our Services or Reports. EquitiesIQ and our affiliates have not reviewed these sites and take no responsibility for their content. Use of such information or accessing such a website is at your own risk.

Client Specific Disclaimers and Disclosures

Non-Permitted Uses of the Site and Services

You may not use the Site or our Services for any illegal or improper purposes, including:

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Limitation of Liability

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Indemnification

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Disclaimer of Warranties

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Copyright or Intellectual Property Infringement Notice.

If you believe you any of the content provided on the Site or through our Services infringes on your copyright or other intellectual property rights, please send us notice of the alleged infringement with a brief explanation identifying the alleged infringing content through our contact form on the Site and we will promptly evaluate your claim and take any appropriate action.

Terms last updated January 10, 2014

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