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Terms of Service Disclaimer: NBT Equities Research is published by NBT Media, LLC. Information contained in such publications is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. The information contained in such publications is not intended to constitute individual investment advice and is not designed to meet your personal financial situation. The opinions expressed in such publications are those of the publisher and are subject to change without notice. The information in such publications may become outdated and there is no obligation to update any such information.

Tobin Smith, NBT Research, LLC, NBT Media, LLC, ChinaTel Capital Partners, LLC and other entities in which he has an interest, employees, officers, family, and associates may from time to time have positions in the securities or commodities covered in these publications or web site. Corporate policies are in effect that attempt to avoid potential conflicts of interest and resolve conflicts of interest that do arise in a timely fashion. Paid sponsors of NBTEquitiesResearch.com may be subjects of Special Reports, Special Alerts or other publications as part of their sponsorship benefits. Sponsored equity research coverage of specific securities is not accepted by NBT Research, LLC but sponsors may be included in NBT Research, LLC research universe