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We are investors.  We are biased.  So are other investors.  So are the companies we discuss.  So are the banks that raised money for such companies.  If you are invested (either long or short) in a company, so are you.  Just because we are biased does not mean that we are wrong.  We, like everyone else, are entitled to our opinions and to the right to express such opinions in a public forum.  We believe that the publication of our opinions and the underlying basis for such opinions is in the public interest.

Think critically about our reports and do your own homework before making any investment decisions.

We believe that the publication of our opinions and the underlying facts about the public companies we research is in the public interest, and that publication is justified due to the fact that public investors and the market are connected in a common interest in the true value and share price of the public companies we research.  We are exercising our right to express such opinions in a public forum.  Any investment involves substantial risks, including complete loss of capital.  Any forecasts or estimates are for illustrative purpose only and should not be taken as limitations of the maximum possible loss or gain. Any information contained in this report may include forward-looking statements, expectations, and projections.  You should assume that these types of statements, expectations, and projections may turn out to be incorrect.

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By downloading from, or viewing material on, this website you agree to the following Terms of Service. You agree that use of The Pump Stopper’s research is at your own risk. In no event will you hold The Pump Stopper or any affiliated party liable for any direct or indirect trading losses caused by any information on this site. You further agree to do your own research and due diligence before making any investment decision with respect to securities covered herein. You represent to The Pump Stopper that you have sufficient investment sophistication to critically assess the information, analysis and opinion on this site. You further agree that you will not communicate the contents of this report to any other person unless that person has agreed to be bound by these same terms of service. If you download or receive the contents of this report as an agent for any other person, you are binding your principal to these same Terms of Service.

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As evident by the contents of our research and analysis, we expend considerable time and effort to ensure that our research, analysis and written materials are complete and accurate, we strive for accuracy and completeness to support our opinions, and we have a good-faith belief in everything we write – but such information is presented “as is,” without warranty of any kind, whether express or implied.  All expressions of opinion are subject to change without notice, and we make no representation, express or implied, as to the accuracy, timeliness, or completeness of any such opinions and information or with regard to the results to be obtained from its use, and we make no representation that we will update any information on this.

All facts, figures, and opinions are as stated at the last practicable date.  This document has been prepared for informational purposes only.  This document is not an offer, or the solicitation of an offer, to buy or sell a security or enter into any other agreement.  We have made every effort to ensure that all information contained herein that support our opinions is accurate and reliable, and has been obtained from public sources we believe to be accurate and reliable, and who are not insiders or connected persons of the stock or company covered herein or who may otherwise owe any fiduciary duty to the issuer. However, we do not represent that it is accurate or complete and should not be relied on as such.

Do not presume that any person or company mentioned herein has reviewed a report prior to its publication.

This report expresses our opinions, which we have based upon publicly available facts and evidence collected and analyzed including our understanding of representations made by the managements of the companies we analyze, all of which we set out in our research reports to support our opinions, all of which we set out herein.  We conducted basic research based on public information in a manner than any person could have done if they had been interested in doing so.  You can publicly access any piece of evidence cited in this report.

Nothing published by The Pump Stopper should be considered personalized investment advice.  The content of the website has been prepared for informational purposes only without consideration of any individual’s particular investment goals, financial situation or the suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter.

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We encourage you to review the financial and educational information available at the U.S. Securities and Exchange Commission (“SEC”) website (http://www.sec.gov) and the Financial Industry Regulatory Authority (“FINRA”) website (http://www.finra.org/index.htm).

My research and reports express my opinion, which I have based upon generally available information, field research, inferences and deductions through my due diligence and analytical process. To the best of my ability and belief, all information contained herein is accurate and reliable, has been obtained from public sources I believe to be accurate and reliable, and is not from insiders or connected persons of the stock covered herein or who may otherwise owe any fiduciary duty or duty of confidentiality to the issuer. However, such information is presented “as is,” without warranty of any kind, whether express or implied. The Pump Stopper makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use. Further, any report on this site contains a very large measure of analysis and opinion. All expressions of opinion are subject to change without notice, and The Pump Stopper does not undertake to update or supplement any reports or any of the information, analysis and opinion contained in them.

The materials on the site are not an offer to sell or a solicitation of an offer to buy any security, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer would be unlawful under the securities laws of such jurisdiction.

The Pump Stopper makes no representations, and specifically disclaims all warranties, express, implied, or statutory, regarding the accuracy, timeliness, or completeness of any material contained in this site. You should seek the advice of a security professional regarding your stock transactions.

The Pump Stopper does not guarantee in any way that it is providing all of the information that may be available. We recommend that you do your own due diligence before buying or selling any security.

The principals of The Pump Stopper most always hold a position in any of the securities profiled on the site.  The Pump Stopper will not report when a position is initiated or covered.  Each investor must make that decision based on his/her judgment of the market.

You should assume that as of the publication date of our reports and research, The Pump Stopper (possibly along with or through our members, partners, affiliates, employees, and/or consultants) along with our clients and/or investors and/or their clients and/or investors has a short position in all stocks (and/or options, swaps, and other derivatives related to the stock) and bonds covered herein, and therefore stands to realize significant gains in the event that the price of either declines. We intend to continue transacting in the securities of issuers covered on this site for an indefinite period after our first report, and we may be long, short, or neutral at any time hereafter regardless of our initial recommendation.

This is not an offer to sell or a solicitation of an offer to buy any security, nor shall The Pump Stopper offer, sell or buy any security to or from any person through this site or reports on this site.

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The Pump Stopper has not sought or obtained consent from any third party to use any statements or information indicated herein as having been obtained or derived from a third party.  Any such statements or information should not be viewed as indicating the support of such third party for the views expressed herein.

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Additional disclosure:

These articles are based on my opinions and personal judgments, which must not be construed as facts. The writing is intended for informational purposes and should be used only as a reference for ongoing research.

Investors should always do their own due diligence and consider personal risk tolerance, preferences, and needs when making an investment or a trading decision.