Disclosures

New Constructs®, LLC (together with any subsidiaries and/or affiliates, ‘New Constructs’) is an independent organization with no management ties to the companies it covers. None of the members of New Constructs’ management team or the management team of any of New Constructs’ affiliates hold a seat on the Board of Directors of any of the companies New Constructs covers. New Constructs does not perform any investment or merchant banking functions and does not operate a trading desk.

New Constructs’ Stock Ownership Policy prevents any of its employees or managers from engaging in Insider Trading and restricts any trading whereby an employee may exploit inside information regarding our stock research. In addition, employees and managers of the company are bound by a code of ethics that restricts them from purchasing or selling a security that they know or should have known was under consideration for inclusion in a New Constructs report nor may they purchase or sell a security for the first 15 days after New Constructs issues a report on that security.

New Constructs is affiliated with Novo Capital Management, LLC, the general partner of a hedge fund. At any particular time, New Constructs’ research recommendations may not coincide with the hedge fund's holdings. However, in no event will the hedge fund receive any research information or recommendations in advance of the information that New Constructs provides to its other clients. All charts and figures appearing on this website or in files made available from this website are based on New Constructs’ internal models and solely reflect the opinions of New Constructs.

Disclaimers

The information and opinions presented on this website are provided to you for information purposes only and are not to be used or considered as an offer or solicitation of an offer to buy or sell securities or other financial instruments. New Constructs has not taken any steps to ensure that the securities referred to on this website are suitable for any particular investor and nothing on this website constitutes investment, legal, accounting or tax advice. This website includes general information that does not take into account your individual circumstance, financial situation or needs, nor does it represent a personal recommendation to you. The investments or services contained or referred to on this website may not be suitable for you and it is recommended that you consult an independent investment advisor if you are in doubt about any such investments or investment services.

Information and opinions presented on this website have been obtained or derived from sources believed by New Constructs to be reliable, but New Constructs makes no representation as to their accuracy, authority, usefulness, reliability, timeliness or completeness. New Constructs accepts no liability for loss arising from the use of the information presented on this website, and New Constructs makes no warranty as to results that may be obtained from the information presented on this website. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. Information and opinions contained on this website reflect a judgment at its original date of publication by New Constructs and are subject to change without notice. New Constructs may have and may in the future update this website with information that is inconsistent with, and reach different conclusions from, the information presented on this website. At any given time, the website reflects the different assumptions, views and analytical methods of New Constructs. New Constructs is under no obligation to insure that changes to the website are brought to the attention of any visitor to this website.

New Constructs’ reports and information are intended for distribution to its professional and institutional investor customers. Recipients who are not professionals or institutional investor customers of New Constructs should seek the advice of their independent financial advisor prior to making any investment decision or for any necessary explanation of its contents. This website is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject New Constructs to any registration or licensing requirement within such jurisdiction. This website may provide the addresses of other websites. Except to the extent to which the website refers to New Constructs own website material, New Constructs has not reviewed the linked site and takes no responsibility for the content therein. Such address or hyperlink (including addresses or hyperlinks to New Constructs own website material) is provided solely for your convenience and the information and content of the linked site do not in any way form part of this website. Accessing such websites or following such hyperlinks through this website shall be at your own risk. All material on this website is the property of, and under copyright, of New Constructs. None of the contents, nor any copy of it, may be altered in any way, copied, or distributed or transmitted to any other party without the prior express written consent of New Constructs. All trademarks, service marks and logos used on this website are trademarks or service marks or registered trademarks or service marks of New Constructs.