Disclaimer & Disclosure
Disclaimer & Disclosure
As of June 1, 2010
Disclaimer
The content on this website is owned and published by Business Financial Publishing, LLC (BFP). BFP is neither a registered investment adviser nor a broker/dealer. Readers are advised that this web site and electronic publication is issued solely for information purposes and should not to be construed as an offer to sell or the solicitation of an offer to buy any security.
The views expressed herein are based upon our analysis of the issuer's public disclosures, and assumes both their accuracy and completeness.
The opinions and statements included herein are based on sources (including the companies discussed and public sources) believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. We have not independently verified the information contained herein. This information is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor.
We encourage you to consult with independent financial advisors with respect to any investment in the securities mentioned herein. You should review a complete information package on all companies, which should include, but not be limited to, the Company's annual report, quarterly reports, press releases and all regulatory filings. All information contained on this website should be independently verified with the subject company. The foregoing discussion contains forward-looking statements, which are based on current expectations, estimates and projections, and differences from such expectations, estimates and projections can be expected.
BFP web sites and publications contain personal opinions of our researchers and writers, and none of the information contained therein constitutes that a recommendation of any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. Readers should further understand that BFP will not advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. To the extent any of the information contained in BFP web sites and publications may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. Past results are not necessarily indicative of future performance. DO NOT EMAIL BFP EDITORS SEEKING PERSONALIZED INVESTMENT ADVICE, WHICH WE CANNOT PROVIDE.
This published content is intended only for residents of the United States. It is not intended for residents of the United Kingdom, and is not an approved publication by the Financial Services Authority in the UK.
The information contained in this newsletter is not intended to be a complete discussion of information regarding all of the current and/or intended business activities of the covered companies. Any opinions expressed are statements of judgment as of the date of publication, are subject to change without further notice, and may not necessarily be reprinted in future publications or elsewhere.
BFP and its members, managers, writers and employees do not accept compensation in exchange for coverage of public companies profiled within our paid subscription investment newsletters.
BFP and its members, managers, writers and employees, and their families from time to time position in the securities of the companies discussed within our newsletters. These positions are subject to change at any time without notice. We disclose any ownership conflicts within the newsletter issue in which we mention a company with which there is a conflict.
YOU SHOULD VERIFY ALL CLAIMS AND DO YOUR OWN RESEARCH BEFORE INVESTING IN ANY SECURITIES MENTIONED ON THIS WEBSITE. INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. YOU MAY LOSE PART OR ALL OF YOUR PRINCIPAL INVESTMENT.
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 National Association of Securities Dealers ("NASD") website (http://www.nasdr.com).
Ownership Disclosure & Trading Restrictions
This web site and the related email newsletter communications is published by Business Financial Publishing, LLC (BFP). BFP owns and operates this and other web sites that publish information and personal opinions related to the financial markets, including stocks, bonds, mutual funds, and options. BFP also operates under the Wyatt Investment Research brand name.
BFP aims to assist individual investors by providing them with information and educational lessons related to a wide variety of investments and strategies. Our goal as publishers of financial information is to be as independent as possible and to act in the best interest of our readers.
We strive to find the best possible investments for our subscribers, and in no way want that to be tarnished. For this reason, we have decided to issue a formal disclosure policy.
BFP encourages its personnel to invest in individual stocks. We believe that in doing so, our personnel are better able to understand the stock market and share this knowledge and their personal experiences with subscribers. We encourage our personnel to invest, and have put in place strict policies in order to avoid any conflicts and assure complete disclosure of ownership of securities about which we publish information and opinions.
We permit our personnel to invest in companies discussed within our web sites and publications. However we have put in place strict restrictions and disclosure policies in order to put the interests of our subscribers first and foremost.
BFP personnel include all full time employees and select independent contractors involved in investment research and writing for our web sites and publications. BFP believes that these policies are in the best interest of our company, and our subscribers, and are intended to help our personnel avoid violation of the applicable state and federal laws. Personnel who violate these formal company policies are subject to termination, following a thorough review and consideration of the facts and circumstances.
Disclosure
Our full disclosure policy is designed to keep you fully aware of any stocks that are owned by personnel of BFP and also discussed within the web site and publication.
When we mention a company within an issue of one of our paid subscription investment newsletter advisories, and an employee or writer owns the stock in an investment account they control (directly or indirectly), that position is fully disclosed.
All companies covered within the newsletter that are also owned by employees are listed at the bottom of each issue or article in the Disclaimer, whether the issue is sent by email or posted on the web site.
Trading Restrictions
In addition to full disclosure, we have also developed trading restrictions that apply to all personnel. These restrictions apply to stocks covered within and held within the model portfolio of a paid subscription investment newsletter advisory.
- Once the Editor or writers have decided to begin coverage of a new company, that company is placed on a "Restricted List" which bars trading in a company effectively immediately, and further bans trading for five days after the date of the publishing of that article. Employees must disclose any positions in companies on the Restricted List immediately.
- In the event that BFP Personnel do own shares, BFP will not publish an initial report that company until five business days have passed from the date of the most recent transaction.
- BFP Personnel cannot buy or sell shares for five trading days after the issuance of an initial report on a company. Since many companies are mentioned on a weekly basis in the Portfolio Update issues, this restriction only applies to initial research reports.
- BFP personnel can not "tip" non-employees of a report which will be written about a specific company in advance
Additionally, BFP personnel are restricted from trading in the shares of publicly traded companies that are currently purchasing advertising from our company. This applies to companies that have been the subject of advertisements regardless of whether the advertisement was paid for by the company directly or a third party.
Compensation
BFP personnel do not accept compensation from publicly traded companies for coverage on our web sites or within our publications.
Compensation Information
Business Financial Publishing, LLC (BFP) is an Internet media company, and the owner and operator of this web site. BFP generates revenues through the sale of advertising on our web sites, within our newsletters, within our e-letters, and through the rental of our email and postal database on a one-time basis to advertisers. We also sell subscriptions to our investment newsletters and trading services, and generate revenues from our subscribers.
BFP provides independent newsletter services, and we do not
receive compensation in exchange for coverage of publicly traded
companies within our paid subscription investment newsletters.
We do sell advertising to other companies including brokerage
firms, web sites, and investment publications, and other
companies.
We also sell advertising to publicly traded companies, or third party groups such as investor relations or marketing firms that seek to gain exposure for a public company. This advertising is typically for email list rental, postal list rental, or online lead generation. In the event that we are sending an email advertisement about a specific public company, we fully disclose the amount of the compensation in the Disclaimer section at the bottom of each email. Additionally, these email messages include language to help the recipient understand that the message is a paid advertisement.
BFP makes no warranty as to the compensation policies of these organizations, and in no way endorses their offers, services, or the content contained within their advertisements.
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