SEC Disclosure

The following disclosures relate to relationships between Whitestone Wire and Whitestone Asset Management, LLC (“Whitestone”) and companies covered by Whitestone Wire and referred to in research reports. The reports have been prepared by Whitestone Wire, an affiliate of Whitestone which is an investment advisor registered in the State of California. Whitestone Wire receives fees from Whitestone for the right to use and distribute research reports prepared by Whitestone Wire. Whitestone does and seeks to do business with companies covered in Whitestone Wire’s research reports. Whitestone may receive fees from issuers that are the subject of research reports prepared by Whitestone Wire for investor and public relations and other marketing-related services provided to such issuers by Whitestone. As a result, investors should be aware that each of Whitestone Wire and Whitestone may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.

General Disclosures

The research reports are for our clients informational purposes only. The research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. Any opinion expressed in the reports is subject to change without notice and may differ or be contrary to opinions expressed by other professionals or business areas of Whitestone Wire or Whitestone . We are under no responsibility to update our research. The views expressed in the research reports accurately reflect the responsible analyst’s personal views about the subject securities or issuers. No part of the analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by that analyst in the research report.

We and our affiliates, officers, directors, and employees, excluding analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives thereof of covered companies referred to in our research reports. This research is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Clients should consider whether any advice or recommendation in this research is suitable for their particular circumstances and, if appropriate, seek professional advice, including tax advice. The price and value of the investments referred to in this research and the income from them may fluctuate. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Certain transactions, including those involving futures, options, and other derivatives, give rise to substantial risk and are not suitable for all investors.

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