California Equity Research, LLC Disclaimer

The information contained herein is not a solicitation to buy or sell any securities from any specific company. Further, the information contained herein has been obtained from sources believed to be reliable but its accuracy and completeness is not guaranteed and should not be the sole basis of any investment decision but only to be used as a factor in the investment decision process. The opinions expressed in this report are based on are our current opinion and are subject to change with out notice.

Employees, affiliates, officers, directors and shareholders of California Equity Research LLC may have investment positions in securities that are the subject of our underlying research. No trade may be executed prior to the dissemination of buy, sell or hold ratings, ratings changes or changes to price targets.