OTC Markets Group's Policy Regarding Caveat Emptor 
OTC Markets Group Inc. (“OTC Markets”) identifies securities with a Caveat Emptor symbol to inform investors that, in OTC Markets’ opinion, there is reason to exercise additional care and perform thorough due diligence in making investment decisions for a particular security. The Caveat Emptor symbol is displayed in place of the OTC marketplace identifier on all OTC Markets’ platforms and is distributed on market data feeds. The symbol is displayed wherever OTC Markets’ quote data is available. It is used by investors, broker-dealers, clearing firms and other industry participants when they make trading decisions. Reasons OTC Markets Assigns Caveat Emptor: - Promotion/Spam without Adequate Current Information — The security is being promoted to the public, but adequate current information about the issuer has not been made available to the public. OTC Markets believes adequate current information must be publicly available during any period when a security is the subject of ongoing promotional activities having the effect of encouraging trading of the issuer's securities. At such instances, as a matter of policy, when adequate current information is not made available, OTC Markets will label the security as "Caveat Emptor." Promotional activities may include spam email, unsolicited faxes or news releases, whether they are published by the issuer or a third party.
- Investigation of Fraud or Other Criminal Activities — There is an investigation of fraudulent or other criminal activity involving the company, its securities or insiders. When OTC Markets becomes aware of such investigation, the companies’ securities may be subject to Caveat Emptor.
- Suspension/Halt — A regulatory authority or an exchange has halted or suspended trading for public interest concerns (i.e. not a news or earnings halt).
- Undisclosed Corporate Actions — The security or issuer is the subject of a corporate action, such as a reverse merger, stock split, or name change, without adequate current information being publicly available.
- Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the issuer has not made adequate current information available to the public.
- Other Public Interest Concern — OTC Markets has determined that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion, spam or disruptive corporate actions even when adequate current information is available.
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