Disclaimer - Cohen Independent Research* Group, Inc.

Cohen GrassrootsResearch, Inc.

Short Disclaimer

Cohen Grassroots Research, Inc. (CGR) is an InvestorRelations firm hired or not hired by companies and third parties to provideInvestor Awareness services. Thisdisclaimer for all of CGR websites is to be read and understood before usingInformation. When the words 'research' and 'report' are used in our reports,websites, disclaimers, distributed Information, documents, programs andcommercial products, they mean commercial advertisement. CGR distributesInformation purchased and compiled from outside sources and analysts. Thisreport/release/advertisement is hereinafter defined as an investor relationsreport and is for general Information purposes only. Do not base any investmentdecision or rely on Information in this investor relations report includingfinancial projections, price targets which are academic theory, buy/sell andtrading observations and forecasted business prospects. Never invest in anystock featured, distributed, posted, written and/or edited by CGR or a thirdparty on web sites, emails, newsletters, or other media unless you can affordto lose your entire investment. AllInformation should be validated by the issuing company. This publication is not provided to anyparticular individual with a view toward their investment circumstances. CGRdoes not give investment advice and is not a registered Investment Advisor or amember of any association for other research providers. Under no circumstances is this investorrelations report to be used or considered as an offer to sell or a solicitationof any offer to buy any security or other debt instruments, or any options,futures or other derivatives related to such securities herein. By accessing, viewing or using our websites,analytical documents or communications, you agree that you alone bear completeresponsibility for your own investment research, due diligence and investmentdecisions. The majority of theseprofiled companies are highly risky OTC Bulletin Board or Pink Sheet companies. CGR’s history and past results are the combinationof Cohen Independent Research Group, Inc., and Cohen Grassroots Research,Inc.,

Release of Liability

CGR assumes no liability for any short term or long terminvestment decision by any investor of our profiled stocks or any third party’suse of CGR materials. CGR assumes no liability from any discussed issuing orprivate company. The reader of theInformation including public and private companies hereby indemnifies CGR fromany liability for any claimed direct, indirect, incidental, punitive, orconsequential damages pertaining to the disseminated Information. The readeracknowledges that CGR will not be liable to any person, public or privatecompany or entity for the quality, accuracy, completeness, reliability,background information on personnel, or timeliness of Information in thisinvestor relations report, or for any direct, indirect, consequential,incidental, special or punitive damages that may arise out of the use ofInformation, products or services from any person or entity including but notlimited to lost profits, loss of opportunities, trading losses, and damagesthat may result from any incompleteness or inaccuracy in any of CGR’s profiledcompanies of the disseminated Information. CGR does not undertake any responsibility or liability whatsoever forany forward looking statements or any legal obligation whatsoever for updatingthe Information.

Quality and Limitationsof Information

CGR analysts rely on Information considered to bereliable. This Information may come fromissuing or private companies, SEC and other regulatory filings, and othersources available to the analyst. CGRand its analysts are limited in validating, quantifying and researching suchdistributed information. ThisInformation may or may not be used by CGR analysts for writing their analyticalinvestor relations documents. TheInformation used and statements of fact made are not guarantees, warranties orrepresentations as to their completeness or accuracy. Investor relations report opinions are thepersonal views of the outside contracted analyst. (a) This Information may or may not beaccurate or truthful. CGR and itsanalysts have no access to this Information beyond available publicinformation. (b) CGR does notindependently verify or assert the truthfulness, completeness, accuracy orreliability of the Information and is not responsible for errors andomissions. (c) Because the Informationis presented on an “as is” basis, your use of the Information is at your ownrisk. (d) CGR disclaims, expressly and impliedly, all warranties of any kind,including those of merchantability and fitness for a particular purpose orwhether the Information is accurate or reliable or free of errors. (e)Statements contained in the Information that are not historical facts areforward looking statements that involve risks and uncertainties as indicated bywords such as ‘believes’, ‘expects’, ‘estimates’, ‘may’, ‘will’, ‘should’ or‘anticipates’ or similar expressions. These forward looking statements maymaterially differ from the Issuer’s presentation of Information to CGRanalysts, and actual operational and financial results or its actualachievements, claimed or otherwise. (f) Reading our analytical documents alone(including other reasons cited herein) should never be used as the sole basisfor making an investment decision. Weurge you to use the Information (if you find such Information to be useful)only as a starting point for your further investigation and research. Consult with your investment or financial adviser,attorney or other counselor as to the advisability of taking any actionsincluding buying or the selling of securities. Do your own research.

Corporate andPromotional Firm’s Activities

CGR disclaims and is not a part of any ‘third party’ (definedas a corporation, shareholder, outside entity, Investor Relations, PublicRelations, Promotional Firm or Investor Awareness firm) or associated withtheir methods of operation, distribution, programs and use of CGR’s materials. (a) CGR may act as an independentnon-affiliated subcontracting vendor of Information materials to certain thirdparty corporations, shareholders, investor awareness, IR and PR firms. (b) All subcontracted CGR vended materialsbecome assets of a paying third party client to use at their choice, and do notrepresent in any way CGR’s endorsement or participation in any third party’scorporation, shareholder, IR, PR or investment awareness programs. (c) CGR is not a part of or connected to anyand all potentially illegal corporate, third party, shareholder, promotionalfirms, IR, PR firms, outside communications of all types, including outsidetrading activities. (d) CGR has no knowledge or inside Information orparticipation in any illegal activities, including illegal trading, of any ofits profiled companies or third party clients. (e) CGR and its outside sources have no firsthand knowledge of anyprofiled company or third party, corporation, shareholder, IR, PR andinvestment awareness firm’s capabilities, intent, resources, financing,operations, politics, inner workings, plans, management competence anddecisions, internal corporate and third party goals, ethical standards, ortheir ability to reach their corporate or third party goal. CGR reserves the right to co-market its separateservices with other third party firms.

General Information

CGR advises recipients of all such data to be validated fromthe issuing or private company including all statistical Information derivedfrom SEC filings, from data sources, the opinion of the analyst, or financialInformation and data from the issuing company contained herein. The reader should seek professional financialadvice, verify all claims and do his/her own research and due diligence beforeinvesting in any securities mentioned. When paid in stock, Readers are advised to review SEC periodic reports,Section 27A of the Securities Act of 1993 and Section 21E of the SecuritiesExchange Act of 1934 includes statements and caution regarding expectedcontinual growth of a profiled company and the value of its securities, Forms10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D,www.sec.gov.nasd.com, www.pinksheets.com, www.sec.gov and www.finra.com. CGR is compliant with the Can Spam Act of 2003. Investing in micro-cap and small capsecurities is speculative and carries a high degree of risk. Investors can lose their entireinvestment. Future prospects may not berealized. Do your own research.

The Private SecuritiesLitigation Reform Act of 1995

Compensation

Because we may receive compensation for CGR’s disseminationof the Information, our publicly disseminated publications should not beregarded in any manner whatsoever as independent. CGR is sometimes paid fordocuments and distribution in cash, stock, Rule 144 stock, warrants, options orother securities in lieu of or in addition to CGR's stated compensationschedule. CGR is sometimes not paid by issuing, private companies or thirdparties. CGR services and documentsrendered are not related to, connected to, nor are they contingent on aclient’s stock price performance. Thiscompensation and ownership of securities of a client’s common stock constitutesa conflict of interest as to our ability to remain objective in ourcommunication regarding our profiled companies. More information can be receivedfrom our client company’s website. The majority of our assignments are for 30days. We may write reports or promote agiven company on other occasions. CGRdiscloses all compensation if remunerated. “The Company may or may not have been paid compensation for thiscommercial advertisement program.” Thisdocument shall not be copied and is copyrighted by Cohen Grassroots ResearchInc. and D. Paul Cohen

Full Disclaimer:

Cohen GrassrootsResearch, Inc.

Cohen Grassroots Research, Inc. (CGR) is an InvestorRelations firm hired or not hired by certain companies and third parties toprovide Investor Awareness services to micro-cap, small cap companies and otherprivate and public companies. When thewords ‘research’ and ‘report’ are used in our reports, websites, distributedInformation, and all commercial products, they mean commercial advertisement.Readers of our Information are hereinafter referred to as ‘Reader’ or‘Readers’. This disclaimer is to be readand understood before using Information. By using or viewing any Information, you agree that you have read thisdisclaimer in full, understand it and proceed to use or view Information inagreement that you alone bear complete responsibility for your own investmentresearch, investment decisions and due diligence. CGR’s history and past results are thecombination of Cohen Independent Research Group, Inc., and Cohen GrassrootsResearch, Inc.,

General Information

Do not base any investment decision on Information in thisreport/release/advertisement, hereinafter referred to as an investor relationsreport; including financial projections, price targets, buy/sell and tradingobservations and forecasted business prospects. This publication is not provided to any particular individual with aview toward their investment circumstances. CGR is hereinafter collectivelyreferred to as CGR, “we” or “us” or “our”. The words “third party” are collectively defined as private and publiccorporations, IR, PR, investor awareness firms, third party shareholders andother outside entities not affiliated with CGR. Investor Awareness programs aredesigned to help companies communicate their investment characteristics. CGRdoes not give investment advice and is not a registered Investment Advisor or amember of any association for other research providers. CGR distributes analytical documents andother Information and are for general Information purposes only.

Distribution Sources

Never invest in any stock featured, distributed, posted,written and/or edited by CGR or a third party, on CGR or third party Web Sites,Emails / Newsletters, Social Media posts or Social Media profiles or SocialMedia networks including Facebook Status / Posts / Updates, Twitter Tweets /Posts / Updates or any other Social Media based source, Blog Postings, YouTubeor other Video Content, Corporate Profiles, Research Reports, Analyst Reports,PowerPoint Presentations, Corporate Videos, CEO Video Interviews, PressReleases, Banners, Google / Yahoo/ Bing or other Search Engine Advertising or Listings, Images, and/or Web-BasedDiscussion Board Postings or any other Information, Electronic Content andWritten Content (Collectively referred hereafter as “Information”), unless youcan afford to lose your entire investment. CGR electronically disseminates the Information on its Websites, innewsletters, featured reports and spam compliant email communicationspertaining to Profiled Companies’ (the “Issuer” or “Issuers” or “ProfiledCompany” or “Profiled Companies”), the securities of which are most frequentlycommon stock shares quoted on the Over the Counter Bulletin Board (“OTCBB”) orPink Sheets (the “Securities”).

Information, Electronicor Written

All Information herein is not intended to be used forinvestment advice. Under nocircumstances is this investor relations report to be used or considered as anoffer to sell or a solicitation of any offer to buy any security or other debtinstruments, or any options, futures or other derivatives related to suchsecurities herein. CGR electronicallydisseminates the Information on its websites, analytical documents, innewsletters and email communications pertaining to issuers of securities (the"Issuer" or "Issuers" or "Profiled Company" or"Profiled Companies"). AProfiled Company's securities are most frequently quoted on the Over theCounter Bulletin Board ("OTCBB") or the Pink Sheets. Certain Pink Sheet stocks may or may not haveaudited financial statements. CGR and its data vendors do not warranty thatsuch SEC filing data, or any third party information or distribution of CGRInformation and other compiled data is accurate. CGR advises recipients of allsuch data to be validated by the issuing company including all statisticalInformation derived from SEC filings, from data sources or financialInformation and data from the issuing company contained herein. The Informationis forecasted in analytical documents and is primarily based on publiclyavailable Information, such as quarterly (sometimes with un-audited financialstatements) and annual reports (with audited financial statements) filed withthe Securities and Exchange Commission ("SEC"), quarterly and annualaudited and/or un-audited financial reports and Information and DisclosureStatements filed with Pink Sheets, the Issuer's website and Informationobtained through contracted analysts, search engines such as Yahoo Finance,Market Watch and Business Wire. CGR doesnot endorse, independently verify or assert the truthfulness, validity, accuracy,completeness, or reliability of the Information disseminated by an issuingcompany used in any CGR investor relations report.

Release of Liability

CGR assumes no liability for any short term or long terminvestment decision by any investor of our profiled stocks or any third party’suse of CGR materials. CGR assumes no liability from a discussed issuing orprivate company. The reader of theInformation including public and private companies hereby indemnifies CGR fromany liability for any claimed direct, indirect, incidental, punitive, orconsequential damages pertaining to the disseminated Information. The readeracknowledges that CGR will not be liable to any person, public or privatecompany or entity for the quality, accuracy, completeness, reliability,background information on personnel, or timeliness of Information in thisinvestor relations report, or for any direct, indirect, consequential,incidental, special or punitive damages that may arise out of the use ofInformation, products or services from any person or entity including but notlimited to lost profits, loss of opportunities, trading losses, and damagesthat may result from any incompleteness or inaccuracy in any of CGR’s profiledcompanies of the disseminated Information. CGR does not undertake any responsibility or liability whatsoever forany forward looking statements or any legal obligation whatsoever for updatingthe Information.

Quality and Limitationsof Information

CGR analysts rely on Information considered to be reliable. This Information may come from issuing orprivate companies, SEC and other regulatory filings, and other sourcesavailable to the analyst. CGR and itsanalysts are limited in validating, quantifying and researching suchdistributed information. ThisInformation may or may not be used by CGR analysts for writing their analyticalinvestor relations documents. TheInformation used and statements of fact made are not guarantees, warranties orrepresentations as to their completeness or accuracy. Investor relations report opinions are thepersonal views of the outside contracted analyst. (a) This Information may or may not beaccurate or truthful. CGR and itsanalysts have no access to this Information beyond available publicinformation. (b) CGR does notindependently verify or assert the truthfulness, completeness, accuracy orreliability of the Information and is not responsible for errors andomissions. (c) Because the Informationis presented on an “as is” basis, your use of the Information is at your ownrisk. (d) CGR disclaims, expressly and impliedly, all warranties of any kind,including those of merchantability and fitness for a particular purpose orwhether the Information is accurate or reliable or free of errors. (e)Statements contained in the Information that are not historical facts areforward looking statements that involve risks and uncertainties as indicated bywords such as ‘believes’, ‘expects’, ‘estimates’, ‘may’, ‘will’, ‘should’ or‘anticipates’ or similar expressions. These forward looking statements maymaterially differ from the Issuer’s presentation of Information to CGRanalysts, and actual operational and financial results or its actualachievements, claimed or otherwise. (f) Reading our analytical documents alone(including other reasons cited herein) should never be used as the sole basisfor making an investment decision. Weurge you to use the Information (if you find such Information to be useful)only as a starting point for your further investigation and research. Consult with your investment or financialadviser, attorney or other counselor as to the advisability of taking anyactions including buying or the selling of securities. Do your own research.

Corporate, Third Partyand Promotional Firm’s Activities

CGR disclaims and is not a part of any corporation or thirdparty IR, PR or investor awareness firm’s methods of operation, distribution,programs, inner workings and use of CGR’s materials. (a) CGR may act as an independentnon-affiliated subcontracting vendor of materials to certain thirdparties. (b) All CGR subcontractedvended materials become assets of a paying third party client to use at theirchoice, and do not represent in any way CGR’s endorsement or participation inany third party’s programs. CGR is not apart of, or responsible for any content, associated links, resources, orservices associated with any third party website or means of communication. (c)CGR is not a part of or connected to any and all potentially illegal corporate,third party outside communications of all types, including outside tradingactivities. (d) CGR has no knowledge or inside Information or participation inany illegal activities, including illegal trading, of any of its profiledcompanies or third party clients. (e)Such activities might include: causes ofpotential bankruptcy, fraud, fraudulent and false dissemination of Informationand other dissemination of Information, insider trading, corporate and thirdparty non-disclosure, illegal trading, trading manipulation, other legal issuesand regulatory violations. (f) Certain content in our releases or website maybe written, edited and published by our clients or third parties. Our releasesand website may contain the symbols of companies and/or news feeds about companiesthat are not being profiled by us but refer to certain activity in themicro-cap or penny stock market that we have profiled or are currentlyhighlighting. Readers are advised that all reports and news feeds are issuedsolely for informational purposes. (g) Our profiled companies on our websitemay not have approved certain or any statements within the website or reports.(h) This release may provide hyperlinks to third party websites or access tothird party content for which we are not responsible. (i) By accessing, viewing, or using ourwebsite, release or communications originating from this investor relationsreport, you agree that you alone are entirely responsible for your investmentdecision(s). (j) CGR and its outside sources have no firsthand knowledge of anyprofiled company or third party’s capabilities, intent, resources, financing,operations, politics, inner workings, plans, management competence anddecisions, internal corporate and third party goals, legal compliance,historical activities, ethical standards, or their ability to reach theircorporate or third party goals. CGR reserves the right to co-market itsseparate services with other third party firms.

Reader’s Due Diligenceand Regulatory Sources

The Information should only be used, at most, and if at all,as a starting point for Readers to conduct a thorough investigation of theProfiled Company and its securities, to consult with their financial, legal orother advisor(s) and avail themselves of filings and Information that may beaccessed at www.sec.gov . or www.picksheets.com or other electronic medium,including: (a) Reviewing SEC periodicreports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insiderreports (Forms 3, 4, 5 and Schedule 13D); (b) Reviewing Information andDisclosure Statements and unaudited financial reports filed with the PinkSheets; (c) Obtaining and reviewing publicly available Information contained incommonly known search engines such as Google; and (e) Investment guides atwww.sec.gov and www.finra.com pertaining to the risks of investing in pennystocks. The SEC has published aninvestor-focused website to help your due diligence and protect you againstfraud at www.investor.gov. FINRA haspublished information on its website outlining how to invest carefully atwww.Finra.org/investors/index.htm.

Readers Risks

You agree that you alone, Readers of our documents and usersof our website must evaluate and bear all the risks associated with theInformation, including reliance on its accuracy, completeness or usefulness. Inall instances, the Reader should conduct further inquiry into the ProfiledCompany and its securities. The ProfiledCompanies are subject to possible risks,including but not limited to: (a) The Information pertains to penny stocks thatare subject to the SEC’s penny stock rules and commonly involve a high degreeof risk that may result in the loss of some or all of an investment in theProfiled Company’s securities; (b) The Issuer’s penny stock may be thinlytraded, which may lead to difficulties of selling its securities; (c) The SEC reporting issuer may bedelinquent (not current) in its periodic reporting obligations (i.e., in itsquarterly and annual reports) or the Pink Sheet quoted company may be delinquent in its Pink Sheet reportingobligations as indicated by Pink Sheets New Service’s posting a negative “sign” pertaining to the Issuer atwww.pinksheets.com , as follows: (i) “LimitedInformation” for companies with financial reporting problems, economicdistress, or that are unwilling to file required reports with the Pink Sheets;(ii) “Pink Sheets – No Information”, which indicates companies that are unableor unwilling to provide disclosure to the public markets, to the SEC or thePink Sheets; and (iii) “Caveat Emptor”, signifying “Buyer Beware” that there isa public interest concern associated with a company’s illegal spamcampaign, questionable stock promotion, known investigation of a company’sfraudulent or alleged fraudulent activities or its insiders, regulatory suspensions or disruptive corporateactions;

Risks of SmallCompanies

(d) If the Issuer is a development stage company with littleor no operations, the securities should be considered extremely speculative forinvestment purposes; (e) Many companies that have their securities quoted onthe OTCBB or Pink Sheets (as well as Exchange listed companies) have been negatively affected by the economicdownturn, the general economy and the lack of adequate financing to meet theiroperational goals or expansion plans; (f) Many of the energy related and other Profiled Companies are subjectto increasing environmental and other governmental regulations, which subjectsthem to significant costs and possible fines and liabilities for failure to complywith applicable state and federal statutes; (g) The future success of manyOTCBB and Pink Sheet quoted Issuers is dependent upon receiving adequatefinancing or raising sufficient capital, which they may be unable to obtain;

Conflict of Interests Risks

(h) There is aninherent and actual conflict of interest that exists between our Readers’interests and CGR’s interests because CGR’s owners may (i) Receive the Sharesas compensation for disseminating the Information and thereafter sell thoseShares at before, during or after an investor relations report release, or atany time for monetary gain, and (ii) Buys and sells the Profiled Company’sshares in the open market shortly before, during or after the dissemination ofthe Information or at any time; (i) Wedo not receive any direct verification from the Issuer regarding theInformation; (j) A third party shareholder may have a potential or actualconflict of interest in paying CGR for the dissemination of the publicationwhile still holding the Issuer’s shares of common stock that he or she may sellafter the third party shareholder has paid CGR with his or her shares;

Stock Comparison Risks

(k) The comparisons we provide in our Featured Reports under“Similar Companies in Sector” should not be interpreted in any shape, form ormanner whatsoever as an indication of the Issuer’s future stock price or futurefinancial performance since, among other reasons, such “comparison” companiesmay be listed on Exchanges (i.e., theNew York Stock Exchange, NASDAQ, American Stock Exchange) and trade at stockprices that may be thousands of percent higher than the companies we profile;and (l) Readers may encounter difficulties determining what Informationcontained in our publications is material or non-material making it all themore imperative that they conduct further investigation of the Profiled Companyand its securities; and

Other Risks

(m) We may hire independent third party Service Providers ingroup distribution investment awareness firm’s campaigns, aka ‘quarterbackcampaigns’ and other providers, to electronically disseminate live newsregarding the Issuer, Information over which we have no control. We pay cashconsideration to the Service Providers; no securities compensation is paid byus to the Service Providers. (n) ThePenny Stock Market is highly volatile and carries a high degree of risk. Penny stocks can be short term trades or longterm investments provided client companies have enough cash or are able raisesufficient cash to reach their business objectives. (o) Our Profiles, documents and otherInformation regarding the profiled Issuers may include observations regardingpositive or negative short term trading results or long term investment strategiesproviding that issuing companies have or must raise sufficient capital to reachour price targets, the interpretations of which are subject to variousrisks. Short term trading results andlong term investment may result in positive or negative results. Short term trading results ultimately defyexact, or even approximate predictable results of an Issuer’s long term tradingresults. Do not rely on theseobservations; (p) Note that some of the stocks in which we disseminateInformation are not stocks for which we have received any compensation.

Profiled Companies andNon-Client Profiled Trading

CGR, its associates, consultants, affiliated entities,officers, employees, independent contractors, family and friends and directorscan trade, buy and sell Profiled and non-client profiled companies and may buyand sell the Shares in the open market of profiled and non-profiled clientcompanies at any time before, during or after the dissemination of theInformation or for general non client profiled companies trading purposes atany time. These trading activities maycause significant volatility in the Issuer’s stock price or non-client profiledcompany’s stock price, and/or significantly depress or increase the Issuer’s ornon-profiled client company’s stock price. CGR‘s selling of an Issuer’s securities for both profiled and non-clientprofiled companies may cause its stock price to significantly decline,especially when such securities are thinly traded. Because we disseminate the Information aboutvarious issuers and their securities, the price and trading volume of suchsecurities may increase or decrease by hundreds or thousands of percent fromthe Information that we disseminate in our publications. We may simultaneously or at any time sellthose same securities or other non-client profiled companies that result instock price increases or decreases and volume increases or decreases forsubstantial profits or losses, including the sale of millions of shares of oursecurities compensation and/or buying the same securities in the open market. CGR, not including its contracted analysts,may at times receive its compensation in free trading shares or Rule 144 sharesof stock for its associates, consultants, affiliated entities, officers,employees, directors and family. CGRand immediate family members may sell the Shares of profiled or non-profiledclient companies immediately upon their receipt as well as during thedissemination of such Information or within hours, days, weeks or monthsthereafter, during before or after an investor relations report is released, orbuy and sell securities for non-client profiled companies in individual tradingaccounts or accounts in which the individual is the beneficiary. As a result, CGR’s selling activities may causesignificant volatility in the Issuer’s stock price and/or significantly depressthe Issuer’s stock price.

We Do Not ProvideInvestment Advice

We do not hold ourselves out to the public as an investmentadviser and do not otherwise act in the capacity of an investment adviserbecause we do not engage in the business of advising others as to investing in,purchasing, or selling securities or otherwise acting in the capacity of aninvestment adviser or performing any of the activities as follows: (a) weprovide no financial planning type services to our Readers or any persons; (b)we do not manage financial resources on behalf of any person, includingfinancial management based upon analyzing individual “client” needs; (c) we donot provide any person with general recommendations for a course of activity orspecific actions to be taken by a person or “client”; (d) we do not provide anyadvice to our Readers or any other persons recommending allocation of certainpercentages of assets to stocks, penny stocks, life insurance, high yieldingbonds, mutual funds, or other securities; (e) we do not provide any of ourReaders or any persons with tax or estate plans to their individual needs; (f)we do not provide financial programs for our Readers or any other persons because we do not engage in any of theforegoing activities. You should notinterpret any of the Information even remotely as investment advice.

Research Risks,Suitability and Price Targets

Investing in micro-cap and small cap securities isspeculative and carries a high degree of risk. Investors can lose their entire investment. Investors should understandthat statements regarding future prospects may not be realized. CGR does notsupervise any outside analyst and does not guarantee any investor relationsreport to be error or omissions free or factually accurate. Analyticaldocuments include forecasted valuations and forecasted price targets that areaccepted securities analysis protocol in the academic community. There is noguarantee that the predicted business results for the Company will be met.Under NASD Rule 2711, CGR is not defined as a financial analyst. Conclusionsprepared by outside analysts are deemed to be reasonable at the time ofissuance of the report. All decisions are made by the outside analyst and areindependent of outside parties and third parties or influence. Neither theanalyst's compensation nor the compensation received by CGR is related to thespecific observations or views contained in this investor relations report ornote, nor is it related to price performance or volume of shares traded in thereferenced security. CGR certifies thatno part of the analysts’ compensation was, is, or will be, directly orindirectly, related to the specific observation or views expressed by theanalyst in the report. CGR or itsaffiliates may from time to time perform consulting or other services for, orsolicit consulting or other business from any entity mentioned in this investorrelations report. Consulting agreements that CGR may have with a given companyare not related to, linked or connected to analytical documents or theirdistribution. This investor relations report does not have regard to thespecific investment objective, financial situation, suitability, and theparticular need of any specific person who may receive this investor relationsreport. Investors should note that income from such securities, if any, mayfluctuate and that each security's price or value may rise or fallsubstantially. Accordingly, investors may receive back less than originallyinvested, or lose their entire investment. Past performance is not indicativeof future performance. CGR has not entered into a soft dollar agreement withthe referred to Company. CGR does not currently have an investment bankingrelationship or a finder’s fee agreement with the Company.

The Private SecuritiesLitigation Reform Act of 1995

The Private Securities Litigation Reform Act of 1995 providesinvestors a 'safe harbor' in regard to forward-looking statements. CGR cautionsall investors that such forward-looking statements in this investor relationsreport are not guarantees of future performance. Unknown risk, includingbankruptcy, uncertainties, fraud, stock manipulation as well as otheruncontrollable or unknown factors may cause actual results to materially differfrom the results, performance or expectations expressed or implied by suchforward-looking statements. Smaller companies may have a higher likelihood offiling for bankruptcy. Investors are urged to do their own research regardingthe dangers of a potential bankruptcy filing. The enclosed company may have toraise additional capital to remain solvent and to meet forecasted valuation andprice projections in this investor relations report. Investor awarenessdistribution programs can materially affect the price of the company'sstock. CGR assumes no responsibility andno liability for any corporate Press Release or any third party promotion. CGR performs and participates at times ininvestor awareness programs. When used,the words "anticipate," "believe," "estimate,""expect," and similar expressions as they relate to the Company orits management are intended to identify such forward-looking statements. TheCompany's actual results, performance or achievements could differ materiallyfrom the results expressed in, or implied by these forward looking statements.CGR distributes its reports through a research distribution network and byinvestor awareness commercial advertising programs to various types ofinvestors. Recipients of such distribution may be short term investors such asday traders, traders, retail investors, institutions, and/or long term retailand institutional traders and investors. Recipients may create volatile trading prices. CGR reserves the right, in its solediscretion, at any time, and without any obligation, to make improvements to,or correct any error or omission(s) in any portion of the service or thematerials. The service and the materials are provided by CGR on an 'as is'basis. CGR expressly disclaims any and all warranties, express or implied,including without limitation warranties or merchantability and fitness for aparticular purpose, with respect to the service or any materials and products.

Regulation

CGR complies with current securities laws, regulations andethical standards as related to CGR's compliance requirements. Any profiled issuing company shall be liableunder Regulation SEC Rule 10b-5-1 for misinformation published or provided toCGR. This investor relations report hasbeen prepared in accordance with the SEC's rules and amendments, Oct 23, 2000,regarding 17 CFR Parts, 240, 243 and 249, (Selective Disclosure and InsiderTrading), Rules 27A of the Securities Act of 1993, Section 21E of the SecuritiesExchange Act of 1934, Regulation FD (Fair Disclosure), 10b5-1, 10b5-2, NASDRules 2250, 2420, 2710 and 2711.

Compensation

Because we may receive compensation for CGR’s disseminationof the Information, our publicly disseminated publications should not beregarded in any manner whatsoever as independent. CGR is sometimes paid fordocuments and distribution in cash, stock, Rule 144 stock, warrants, options orother securities in lieu of or in addition to CGR's stated compensationschedule. CGR is sometimes not paid by issuing, private companies or thirdparties. CGR services and documentsrendered are not related to, connected to, nor are they contingent on aclient’s stock price performance. Thiscompensation and ownership of securities of a client’s common stock constitutesa conflict of interest as to our ability to remain objective in ourcommunication regarding our profiled companies. More information can bereceived from our client company’s website. The majority of our assignments arefor 30 days. We may write reports orpromote a given company on other occasions. CGR discloses all compensation if remunerated. “The Company may or may not have been paidcompensation for this commercial advertisement program.” This document shall not be copied and iscopyrighted by Cohen Grassroots Research Inc. and D. Paul Cohen

Disclaimer: Price Targets

The Penny Stock Market is a highly risky market targeted atshort term traders. Stock prices can beheavily influenced by investor awareness campaigns. In general, we observe the more money spenton such campaigns, the greater the possibility for short term price increasespost our initiate coverage documents. Wealso observe that our target prices may not be met unless client companies haveenough cash or are able to raise capital to meet our forecasts.

The Cohen Price Target includes three components. Most reports assume capital will be raisedfor the majority of our client companies. Most micro-cap/small cap companies need capital to reach our theoretical5 year projections. The academic worldjustifies an analyst's decision to forecast the three statements (IncomeStatement, Balance Sheet and Cash Flow Statements) for 5 years. We normally do so in three cases: Optimistic Case, Base Case and PessimisticCase. However, in the practical/realworld, buying a micro-cap or small cap stock based on 5 year forecasting ishighly risky. If smaller companies areable to raise capital, our theoretical price targets in a perfect world mightbe justified, providing the Company executes on its business model.

At times our price targets may be significantly higher thanthe current price of a stock. This canhappen in theory only if the company’s assets, with assumed capital raised,could theoretically create large sales and cash flow volumes over time,especially if the industry is a high growth industry. In the practical world, these price targetsmay appear to be unrealistic. However,we believe the academics of securities analysis of our calculations support thetheory of these assumed price targets.

While we do not give investment advice, the investor shouldconsider the possibilities of a given company being able to raise capital toexecute its business model over 5 years. Few micro/small cap companies are able to raise enough capital andexecute their master budget over an extended period of time. Our price targets are academic theory onlyand should not be relied upon. Investors should do their own research and consult with their financialconsultants.