USER AGREEMENT

Terms and Conditions

The information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Kovack Securities, Inc. (KSI) or its affiliates to any registration requirement within such jurisdiction or country.

No Solicitation to Purchase or Investment Advice

You acknowledge that your requests for the information are unsolicited and that the information is not intended to provide any tax, legal or investment advice. You also acknowledge that the information should not be construed as a solicitation or offer by KSI or its affiliates to buy or sell any securities, options or other financial instruments or provide any investment advice or service. The information does not constitute a representation regarding, or a guarantee of the suitability or potential value of, any particular investment by KSI or its affiliated registered representatives.

Depending on your specific investment objectives and financial position, the investments discussed in this site may or may not be suitable for you. It is up to you to weigh investment decisions carefully. You acknowledge that you understand that past performance is not an indication of future performance or guarantor of future results. Opinions expressed, if any, within this site are subject to change without notice.

Legal Disclosure

KSI or its affiliates may, from time to time, perform or seek to perform investment banking services for any company mentioned in these pages, and KSI or others associated with it may at any time be long or short, sell or buy, make markets in, have options in and effect transactions in the securities mentioned.

Tax Services

The affiliated representative, Louis Miceli offers Income Tax preparation services. KSI does not sponsor, supervise, review or oversee this activity and does not derive any income for or participate in any fees received in association with this service. Its inclusion on this site should not be construed as an endorsement of this service by KSI, its officers directors or employees.

Disclaimer of Warranty and Limitation of Liability

The information on this site is provided "as is". KSI does not warrant the accuracy of the materials provided herein, either expressly or implied, for any particular purpose and expressly disclaims any warranties of merchantability or fitness for a particular purpose. KSI will not be responsible for any loss or damage that could result from interception by third parties of any information made available to you via this site, Although the information provided to you on this site is obtained or compiled from sources we believe to be reliable, KSI cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose. Neither KSI nor any of its affiliates, directors, officers or employees, nor any third party vendor will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this site, or resulting from the act or omission of any other pan involved in making this site, or the date contained herein, available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials, whether or not the circumstances giving rise to such cause may have been within the control of KSI or of any vendor providing software or services support. In no event will KSI its affiliates or any such parties be liable to you for any direct, special, indirect, consequential, incidental damages or any other damages of any kind even if KSI or any other party have been advised of the possibility thereof.

Copyright or Other Notices

If you download any information or software from this site, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.

Use of Links

Should the viewer leave this site via a link contained herein, and view content that is not provided by KSI the viewer does so at the viewer's own risk. KSI is not affiliated with and does not endorse, authorize or sponsor any of the listed Web sites or their respective sponsors, The content to which you link will not have been developed, checked for accuracy, or otherwise reviewed by KSI. KSI is not responsible for damages or losses caused by any delays, defects or omissions that may exist in the services, information or other content provided in such site, whether actual, alleged, consequential or punitive. KSI makes no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, without limitation, the accuracy, subject matter, quality or timeliness of any electronic content.