Terms and conditions

Research reports have been prepared by Advantage Capital Partners investment company independently of the respective companies mentioned therein for information purposes only. Advantage Capital Partners does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that Advantage Capital Partners might have a conflict of interest that could affect the objectivity of reports. The information given and opinions express in research documents are solely for those of Advantage Capital Partners as part of its internal research coverage. These documents do not constitute or contain an offer of or an invitation to subscribe for or acquire any securities. These documents are confidential to clients of Advantage Capital Partners and are not to be reproduced or distributed or given to any other person. Advantage Capital Partners, its directors and employees or clients might have or have had interests or long/short positions in the securities referred to therein, and might at any time make purchases and/or sales in them as a principal or an agent. Advantage Capital Partners might act or has acted as a market-maker in the securities discusses in its reports. The research analysts and/or corporate banking associates principally responsible for the preparation of the reports receive compensation based upon various factors, including quality of research, investor/client feedback, stock picking, competitive factors, firm revenues and investment banking revenues. Prices of listed securities referred to in reports are denoted in the currency of the respective exchanges. Investors in financial instruments such as depository receipts, the values or prices of which are influenced by currency volatility, effectively assume currency risk. Due to the timely nature of reports, the information contained might not have been verified and is based on the opinion of the analyst. Descriptions of any company or issuer or their securities or the markets or developments mentioned in Research reports are not intended to be complete. The Research reports should not be regarded by recipients as a substitute for the exercise of their own judgment as the Research reports have no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. The application of taxation laws depends on an investor’s individual circumstances and, accordingly, each investor should seek independent professional advice on taxation implications before making any investment decision. The information and opinions have not been independently verified, are provided on an ‘as is’ basis and no representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness, reliability, merchantability or fitness for a particular purpose of such information and opinions, except with respect to information concerning Advantage Capital Partners. All statements of opinion and all projections, forecasts, or statements relating to expectations regarding future events or the possible future performance of investments represent Advantage Capital Partners’s own assessment and interpretation of information available to them currently. We do not purport these documents/information to be entirely accurate and do not guarantee it to be a complete statement or summary of available data. Any opinions expressed therein are statements of our judgments as of the date of publication and are subject to change without notice. Reproduction of these documents in whole or in part without prior permission is prohibited.