DISCLAIMER

Waterville Investment Research, and affiliates (WR), publishes reports providing information on selected companies. WR is not a registered investment advisor or broker-dealer. These reports are provided as an information service only, and the statements and opinions in this report should not be construed as an offer or solicitation to buy or sell any security. WR accepts no liability for any loss arising from an investor's reliance on or use of these reports. An investment in any company is considered to be highly speculative and should not be considered unless a person can afford a complete loss of investment. WR or an affiliate of WR has been/will be or may be compensated in Rule 144 stock of the Company for the publication and circulation of these reports. WR intends to sell all or a portion of the of the Rule 144 stock in accordance with all securities laws, which prevents WR from selling stock for a period of one year. WR, as a matter of internal policy, will not buy or sell shares of Company(s) stock in the open market. These reports contains forward-looking statements, which involve risks, and uncertainties that may cause actual results to differ materially from those set forth in the forward-looking statements. For further details concerning these risks and uncertainties, see the SEC filings of the individual Companies including the company's most recent annual and quarterly reports.