As is the case with all Kern, Suslow Securities, Inc. employees, the analyst(s) responsible for the coverage of the financial instruments discussed in this report receive compensation based in part on the overall performance of the firm, including investment banking income. We seek to update our research as appropriate, but various regulations may prevent us from doing so. Aside from certain industry reports published on a periodic basis, the large majority of reports are published at irregular interviews as appropriate in the analyst's judgment.

This material has been prepared by Kern, Suslow Securities, Inc. a U.S. registered broker dealer, employing appropriate expertise, and in the belief that it is fair and not misleading. The information upon which this material is based was obtained from sources believed to be reliable, but has not been independently verified, therefore, we do not guarantee its accuracy. Additional or supporting information is available upon request. This is not an offer or solicitation of an offer to buy or sell any security or investment. This material has not been prepared with a view towards any individual investment objective or consideration of the specific financial condition of the reader. Any opinion or estimates constitute our best judgment as of this date, and are subject to change without notice. Kern, Suslow Securities, Inc. and their affiliates and their respective directors, officers and employees may buy or sell securities mentioned herein as agent or principal for their own account.