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Disclosure

Regulatory Disclosure

 ScimitarEquity, LLC (Scimitar) is an equity research firm providing analysis for under-followed and small capitalization health science companies. Scimitar is a publisher of investment research utilizing the "sponsored" or "paid-for" compensation model to increase visibility and access for these sector specific companies. Scimitar "clearly and prominently" articulates a statement of financial sponsorship and has a compensation arrangement for quarterly and mid-quarter research reviews and delivers this research and analysis via the world-wide web and our proprietary database to the institutional, advisory and retail investment communities. We do not accept payment of any fees in company stock or any form of security. Scimitar Equity, LLC will not have any investment banking relationships with any company to maintain our independence and objectivity. Scimitar is not registered as a securities broker-dealer or an investment advisor either with the SEC or with any state securities regulatory agencies. Scimitar Equity, LLC does not and will not own any securities related to companies we provide analysis or develop research products. We prohibit our analysts, persons reporting to analysts and members of their households from maintaining any financial interest in the securities of any company that we provide research sponsorship.