This report/release is for informational purposes only. All information contained herein is based on public information. Ethical Standards: Cohen Independent Research Group complies with securities laws, regulations and ethical standards as related to our compliance requirements. Certain securities regulations are cited and disclaimed in our Disclaimer. Ethical standards as related to our firm are the foundation of those securities laws and regulations we follow. Our firm is not a member of any association for other research providers. Our firm's policy is to comply with any new securities laws and regulations that might be promulgated in the future. Cohen Independent Research Group (CIRG) is a registered investment advisor that distributes contracted third party independent research purchased from outside third party contracted securities analysts. CIRG's contracted analysts issue certain securities recommendations for fundamental research reports defined as: Buy, Hold/Neutral, No Recommendation, or Sell recommendations. CIRG purchases certain financial data derived from SEC filings and data compiled by other vendors. CIRG and its data vendors do not warranty that such SEC filing data and other compiled data is accurate. CIRG advises recipients of all such data to be validated from the issuing Company including all statistical information derived from SEC filings contained herein. Neither CIRG nor any data vendor shall be held liable for any misinformation or errors contained in any SEC filing data or compiled data from various data feeds. Guests of CIRG's website, readers of CIRG's distributed research, and other interested parties assume full responsibility for the accuracy of all SEC filing data, compiled data from other sources, and are urged to confirm that data with the specific issuing Company. Under no circumstances is this report/release to be used or considered as an offer to sell or a solicitation of any offer to buy any security or other debt instruments, or any options, futures or other derivatives related to such securities herein. CIRG and its affiliates may trade for its own account, and own related securities of the issuer. CIRG or its affiliates, directors, officers and employees, may have a long or short position in securities of the issuer or related investments, and may effect securities transactions with CIRG clients. Investors interested in purchasing securities are urged to read the Prospectus, 10K, 10Q other relevant public documents in full, and to conduct their own research and due diligence. CIRG encourages its readers to invest carefully and read the investor information available on the web sites of the Securities and Exchange Commission ("SEC") at www.sec.gov and/or the National Association of Securities Dealers ("NASD") at www.nasd.com. The reader should verify all claims and do his/her own research and due diligence before investing in any securities mentioned. Investing in securities is speculative and carries a high degree of risk. Investors are encouraged to consult with their financial advisors, brokers, accountants, or attorneys and/or conduct their own due diligence prior to making an investment in any of our featured companies. CIRG's outside contracted analysts reserve the right to change their opinion at any point in time as they deem necessary. There is no guarantee that the target price for the stock will be met or that predicted business results for the Company will be met. Contracted analysts engaged by CIRG are responsible for the preparation and substance of CIRG's research reports. Analysts are responsible to the public. CIRG does not supervise any outside contracted analyst and does not guarantee this report to be error-free or factually accurate. Under NASD Rule 2711, CIRG is not defined as a financial analyst. Conclusions prepared by outside contracted analysts are deemed to be reasonable at the time of issuance of the report. All decisions are made by the outside contracted analyst and are independent of outside parties or influence. Neither the analyst's compensation nor the compensation received by CIRG is related to the specific recommendations or views contained in this research report/release or note, nor is it related to price performance or volume of shares traded in the referenced security. CIRG or its affiliates may from time to time perform consulting or other services for, or solicit consulting or other business from any entity mentioned in this report/release. This research report/release has been prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objective, financial situation, suitability, and the particular need of any specific person who may receive this report/release. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report/release and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security's price or value may rise or fall substantially. Accordingly, investors may receive back less than originally invested. Past performance is not indicative of future performance. CIRG has not entered into a soft dollar agreement with the referred to Company. CIRG does not currently have an investment banking relationship with the Company, or a finder's fee agreement with the Company. The Private Securities Litigation Reform Act of 1995 provides investors a 'safe harbor' in regard to forward-looking statements. CIRG cautions all investors that such forward-looking statements in this report are not guarantees of future performance. Unknown risk, including bankruptcy, uncertainties, as well as other uncontrollable or unknown factors may cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements. Smaller companies have a higher likelihood of filing for bankruptcy. Investors are urged to do their own research regarding the dangers of a potential bankruptcy filing. CIRG urges all potential investors to perform comprehensive due-diligence prior to making any investment. When used, the words "anticipate," "believe," "estimate," "expect," and similar expressions as they relate to the Company or its management are intended to identify such forward-looking statements. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward looking statements. Further management discussion of risks and uncertainties can be found in the Company's quarterly filing with the Securities Exchange Commission and other periodic SEC filings. CIRG and its data vendors do not assume any responsibility or liability for any investor decision made as a result of reading this report/release or accessing financial data from CIRG's various data vendors. CIRG and the issuing Company do not assume any responsibility or liability for any investor decision made as a result of reading this report/release. Readers hereby acknowledge that any reliance upon any materials shall be at the reader's sole risk. CIRG reserves the right, in its sole discretion and without any obligation, to make improvements to, or correct any error or omission(s) in any portion of the service or the materials. The service and the materials are provided by CIRG on an 'as is' basis. CIRG expressly disclaims any and all warranties, express or implied, including without limitation warranties or merchantability and fitness for a particular purpose, with respect to the service or any materials and products. In no event shall CIRG be liable for any direct, indirect, incidental, punitive, or consequential damages of any kind whatsoever with respect to the service, the materials and the products. This report/release has been prepared in accordance with the Securities and Exchange Commission's rules and amendments, Oct 23, 2000, regarding 17 CFR Parts, 240, 243 and 249, (Selective Disclosure and Insider Trading), Regulation FD (Fair Disclosure), 10b5-1, 10b5-2, and NASD Rules 2250, 2420, 2710 and 2711. CIRG currently charges $29,500 for analyst research coverage and distribution of research material for a one year period for initiate coverage reports 50 pages or less: $39,500 for initiate coverage reports 50 - 100 pages, and $49,500 for 100 pages or more pages or more. CIRG is sometimes paid in stock, warrants, options or other securities in lieu of or in addition to CIRG's stated compensation schedule. This document shall not be copied nor reproduced in any form without the expressed written and authorized consent of CIRG. Copyright: CIRG and D. Paul Cohen
Company Overview
