QUARZ CAPITAL MANAGEMENT

Quarz is not regulated by the CCAF in Monaco, Quarz is regulated by MAS in Singapore, Quarz is not regulated by FINMA in Switzerland, Quarz is regulated by the CIMA in the Cayman Islands... You should assume that as of the publication date of any report, post or communication referencing any publicly traded security, Quarz (possibly along with or through our members, partners, investors, employees, clients, affiliates, industry contacts and/or consultants) may have a position in the stock covered herein, and therefore stands to realize significant gains in the event that the price of stock moves. Following publication of any report or letter, we intend to continue transacting in the securities covered therein, and we may be long, short or neutral at any time thereafter regardless of our initial position or recommendation. If any provision in these Terms of Use is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.

Also known as: Quarz Capital Management, Ltd