Accuracy of Information
The information contained in the various reports is based on sources believed to be reliable or trustable. However, we cannot guarantee the accuracy of the factual information neither of the forecasting and the analysis. Past performance may differ from real performance. Past performance is no guarantee of future performance.

No Recommendation
All readers of these reports are advised they are issued only for informational or educational purposes. These reports do not contain any solicitation to act as a securities broker or dealer in any jurisdiction. Moreover, these reports do not contain any type of recommendation such as “strong buy, buy, hold, sell, strong sell”.

No Responsibility
Neither the analyst nor EMphase Finance will be held responsible for any direct or indirect loss arising from any use of material included in this report and this to the full extent permitted by the law. Our opinions and forecasts are given in good faith and without any legal responsibility. These reports are complementary to your own research.

Best Judgement
Opinions expressed are statements made with our best judgment of the public information available at the date of these reports. Any analysis may be subject to change if new public information becomes available and without notice.

Inherent Risks
The investment vehicles discussed in these reports may not be suitable for all investors due to the different risks. Readers must always make their own investment decisions based on their own financial objectives and constraints.

Copyright
These reports are the property of EMphase Finance. Reproduction may be permitted with the written consent of EMphase Finance in a case-by-case basis. The use of any EMphase Finance content and graphics for any purpose is strictly prohibited.