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The Investor Education Institute (IEI) website includes, as applicable and without limitation:

(a) IEI’s on-line computer system including all electronic databases and services accessed by or through IEI on-line computer system;

(b) all documentation, including user manuals, operations manuals and the like provided to you by or for IEI, for use in connection with the on-line computer system; and

(c) any other courses, video presentations, audio presentations, slideshows, software, products, services, data or information provided by IEI or obtained through IEI’s' on-line computer system (collectively referred to herein as "information").

With your access identification to the IEI website, you may not allow concurrent use of the Website by multiple users utilizing identical user identification numbers, or allow another person or entity to use your user identification number to access the IEI Website. You may not remove, alter or obscure any copyright, legal or proprietary notice in or on any portion of the IEI Website. You may store in the memory of your computer and may manipulate, analyze, reformat, print and/or display for your use only, the information received or accessed through the IEI Website pursuant to this Agreement. You may NOT resell, redistribute, broadcast or transfer the information or use the information in a searchable, machine-readable database. Unless separately and specifically authorized in writing by IEI, you may not rent, lease, sublicense, distribute, transfer, copy, reproduce, publicly display, publish, adapt, store or time-share the IEI Website, any part thereof, or any of the information received or accessed there from, to or through any other person or entity. All rights not granted to you herein are expressly reserved by IEI or its licensors.

The information found on IEI Website has been prepared without regard to your investment objectives, financial situation, and needs. Accordingly, you should not act on any recommendation (express or implied) or information on the IEI Website or in any reports distributed by the IEI without obtaining specific advice from your financial advisors and should not rely on information herein as the primary basis for your investment decisions.

IEI accepts no liability to you whatsoever whether in contract, in tort, for negligence, or otherwise for any direct or consequential loss of any kind arising out of the use of the IEI Website or any reports distributed by the IEI or of your reliance on any such information or report. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

Delays in Services; Force Majeure.

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Termination.

This Agreement shall remain in full force and effect unless terminated or canceled for any of the following reasons: immediately by IEI for any unauthorized access or use by you, including, without limitation: concurrent access of the IEI Website by multiple users utilizing identical user identification numbers; permitting another person or entity to use your user identification number to access the IEI Website; or any other access or use of the IEI Website except as expressly provided in this Agreement. immediately by IEI if you assign or transfer (or attempt to assign or transfer) any rights granted to you under this Agreement; immediately by IEI if you fail to abide by the rules and regulations relating to the use of, or tamper with or alter any of the software and/or data files contained in or accessed through, the IEI Website; immediately by IEI if you transmit or receive using the IEI Website (or cause the transmission or receipt of) any pornographic, obscene, disparaging, defamatory, or libelous information of any nature or form whatsoever, with respect to any other user, company, or any other person or business entity. IEI, in its sole discretion, shall determine whether any information transmitted or received violates this provision; immediately by IEI if you violate any of the other terms and conditions of this Agreement; or immediately upon termination of your subscription to the IEI Website. Neither the information nor any opinion expressed shall constitute an offer to sell or a solicitation or an offer to buy any securities or commodities mentioned herein. The information available on the IEI Website or any report distributed by the IEI does not purport to be a complete description of the securities or commodities market or developments to which reference is made.

Warranty Disclaimer.

You acknowledge that the information provided through the IIEI Website is compiled from sources, which are beyond the control of IEI. Though such information is recognized by the parties to be generally reliable during the term of this Agreement, you acknowledge that inaccuracies may occur and IEI and its licensors do not warrant the accuracy or suitability of the information for any particular purpose. The information is provided by IEI and its licensors for your personal information only, and is not intended for trading purposes. Information on this site is does not constitute advice (investment, tax, legal) amounting to investment advice, or make any recommendations regarding particular financial instruments, investments or products. Neither IEI nor its licensors shall be liable for any errors, inaccuracies or delays in content, or for any actions taken by you in reliance thereon. IEI makes reasonable efforts to obtain reliable content from third parties, but IEI does not guarantee the accuracy of or endorse the views or opinions given by any third parties. The IEI Website may point to other Internet sites that may be of interest to you, however, IEI does not endorse or take responsibility for the content on such other sites.YOU ACKNOWLEDGE THAT THE IEI WEBSITE IS PROVIDED TO YOU ON AN "AS IS, WITH ALL FAULTS" BASIS. IEI AND ITS LICENSORS EXPRESSLY DISCLAIM ANY AND ALL WARRANTIES, WHETHER EXPRESS, ORAL, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING ANY IMPLIED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, ANY IMPLIED WARRANTY OF MERCHANTABILITY, ANY WARRANTIES ARISING BY VIRTUE OF CUSTOM OF TRADE OR COURSE OF DEALING AND ANY IMPLIED WARRANTIES OF TITLE OR NON-INFRINGEMENT. SOME STATES DO NOT ALLOW EXCLUSIONS OF IMPLIED WARRANTIES, OR LIMITATIONS ON HOW LONG AN IMPLIED WARRANTY LASTS, SO THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. FURTHER, IEI AND ITS LICENSORS DO NOT REPRESENT OR WARRANT (i) THAT THE IEI WEBSITE WILL MEET YOUR REQUIREMENTS OR IS SUITABLE FOR YOUR NEEDS, OR THAT THE ACCESS OR USE OF THE IEI WEBSITE WILL BE ERROR-FREE.

There are risks inherent in any investment program, particularly in the international investments, or through the use of option contracts or derivatives, which may make such investments unsuitable for you. IEI, and their licensees make no representation that the companies which issue securities and are the subject of IEI research reports are subject to, or in compliance with certain informational reporting requirements imposed by the Securities Exchange act of 1934.