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Scimitar defines itself as sector specific analysts. As a result, we only follow a number of health and life science stocks. Our coverage criteria are small cap and even some micro cap stocks. Scimitar's approach is to initiate and provide research on stocks we personally choose to cover. Scimitar Equity, LLC stock rankings system is meant to assist clients in making decisions by defining investment rankings regarding the companies we sponsor in research coverage. All of the rankings correspond to a specific investment action that Scimitar recommends taking on the date the research is published. It has been our practice to generate an informational company review when we initiate coverage. A Buy ranking could accompany a price target. These company reviews generally entail that additional information about the company that is needed to determine or clarify the companies approach to the growth opportunity. Thus, "Buy" rankings are presented only for stocks that we would be actively buying at the time the research is published. These are stocks that are demonstrating their vision while meeting expectation and are expected to appreciate at least 10% over the next 6 months. "Hold" rankings are presented for stocks that we recommend holding. These are stocks that are making progress strategically and operationally but are not expected to demonstrate significant appreciation in the next 6 months. "Sell" rankings are assigned to stocks where a Scimitar Equity, LLC analyst anticipates a stock price decline for any reason. These are stocks that appear not to be able to fulfill or deliver on their disclosed milestones and are expected to depreciate at least 10% over the next 6 months. In the event an analyst's coverage is terminated, there is a requirement that firms notify investors when coverage is dropped. This notice must include a final ranking or recommendation. The rule specifically calls for notice to be made in the same manner as when research coverage was first initiated.
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