User Acknowledgement

I. USER ACKNOWLEDGEMENT

As a user (“User”) of the EF Hutton Research Report (“EF Hutton Research Report”) internet web site (the “Site”), by selecting the “I Agree” button:

User subscribes to the Site;

Use of the Site is governed by this User Acknowledgement and the Terms of Use and Important Disclosure Information set forth below;

EF Hutton Research Report is not licensed to provide investment advice. No materials presented on or referred to on the Site should be taken as investment advice directly, indirectly, implicitly or in any manner whatsoever including, but not limited to, buying or trading stock on a long or short term basis, or buying or trading or disposing of financial instruments. PAST PERFORMANCE IS NOT INDICATOR OF FUTURE RETURNS. All commentary provided on the Site is provided for information purposes only. This information is not a recommendation or solicitation to buy or sell any securities. EF Hutton Research Report considers the information contained or referred to on the Site to be reliable, but we do not represent that it is consistent or complete, and that it should be relied upon, as such. User should not rely solely on the information in making investment decisions. Rather, User should use the information only as a starting point for doing additional, independent research in order to form User’s own opinion regarding investments. By using the Site, User agrees to use the information on or referred to on the Site at User’s own risk. User understands and acknowledges that there is a very high degree of risk involved in buying, selling, and trading securities and financial instruments. Any information, opinion, advice, offers, or other information posted on the Site by any person or entity logged in to the Site or any associated sites is to be construed as public conversation only. EF Hutton Research Report makes no warranties and gives no assurances regarding the truth, timeliness, reliability, or good faith of any information, data, or material contained or referred to on the Site. User agrees to hold harmless EF Hutton Research Report and its affiliated companies and their respective officers, directors, owners, employees and agents from any and all adverse consequences resulting from User’s use of the Site;

EF Hutton Research Report grants to User a non-exclusive, non-transferrable license to use the research presented on the Site for User’s personal use only and for no other purpose whatsoever without the express written permission of EF Hutton Research Report. User shall not sell, sub-license or distribute the research in any way. User accepts this license and agrees that User shall not use the research except in accordance with this license. User acknowledges and agrees that this license is non-exclusive and that EF Hutton Research Report will license others to use the research. User further acknowledges and agrees that unauthorized use or distribution of the research or any part thereof is illegal and could subject User to substantial money damages. User will be liable for any damage resulting from any violation of this license, the User Acknowledgement, and the Terms of Use and Important Disclosure Information set forth below, including any infringement of copyrights or other proprietary rights; and

User agrees that EF Hutton Research Report is the sole and exclusive owner of the research contained on the Site and of all associated intellectual property registrations and pending registrations, as applicable, and User shall do nothing inconsistent with such ownership. User further agrees that User will not claim ownership rights to the research, or any derivative, compilation, sequel or series, or related research owned by or used by EF Hutton Research Report. User agrees that nothing in this license shall give User any right, title, or interest in the research other than as stated in paragraph (4), above.

II. TERMS OF USE AND IMPORTANT DISCLOSURE INFORMATION

EF Hutton Research Report is an Internet based publication (the “Site”) and is not affiliated with EF Hutton Investment LLC, an SEC registered investment adviser located in Springfield Ohio. Neither EF Hutton Trading Inc. nor the Site is registered as an investment adviser with any federal or state regulatory agency, or in any other regulatory capacity. To the extent that any portion of the Site content would need to rely upon such an exemption, EF Hutton Research Report would rely upon the “publisher’s exclusion” from the definition of “investment adviser” as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws. To the extent reliance on the publisher’s exemption is necessary, the Site is a bona fide publication of general and regular circulation offering impersonalized investment-related advice to users and/or prospective users/ subscribers (e.g., not tailored to the specific investment portfolio or needs of current and/or prospective users).

The Site is limited to the dissemination of impersonal and objective investment-related information [together with access to additional impersonal investment-related information and links.] The publication of the Site on the Internet and the publication of any content should not be construed by any user and/or prospective user/subscriber as EF Hutton Research Report’s provision of any investment related advice or services tailored to any particular individual’s financial situation or investment objective(s). Users do not receive investment advisory, investment supervisory or investment management services, nor the initial or ongoing review or monitoring of the user’s individual investment portfolio or individual particular needs. Therefore, no user should assume that his/her/its use serves as a substitute for individual personalized advice from an investment professional of the user’s choosing. Rather, the Site is designed solely to provide users with a method to evaluate certain investment-related information and trading methodologies/systems.

The user maintains absolute discretion as to whether or not to follow any portion of the EF Hutton Research Report content. EF Hutton Research Report does not offer or provide investment implementation services, nor does it offer or provide initial or ongoing individual personalized advice (neither in person nor via the Internet). It remains the user’s exclusive responsibility to review and evaluate the content and to determine whether to accept or reject any Site content. EF Hutton Research Report expresses no opinion as to whether any of the Site content is appropriate for a user’s investment portfolio, strategy, financial situation, or investment objective(s).

It is the user/subscriber’s exclusive responsibility to determine if any portion of the investment-related information and trading methodologies/systems on the Site, if any, is suitable or appropriate for his/her financial situation and/or investment objectives, both initially and on an ongoing basis. No current or prospective user should assume that the future performance of any specific investment, investment strategy (including the investments trading methodologies/systems discussed on the Site) or any other Site content will be suitable or profitable for a user’s portfolio, equal historical or anticipated performance level(s), or prove to be correct.

Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a user or prospective user’s investment portfolio. Users do not receive investment advisory, investment supervisory or investment management services, nor the initial or ongoing review or monitoring of the user’s individual investment portfolio or individual particular needs. Therefore, no user should assume that his/her/its use serves as a substitute for individual personalized advice from an investment professional of the user’s choosing, including but not limited to EF Hutton Investments LLC.