RATINGS

STRONG BUY / 5
BUY / 4
SPECULATIVE BUY / 3
HOLD / 2
SELL / 1
AVOID / 1
SUSPENDED / 0

STRONG BUY / "5"
Company’s stock price appears to be substantially undervalued relative to its future growth potential.

BUY / "4"
Shares appear to be undervalued in light of several factors.

*SPECULATIVE BUY / "3"
Shares appear to offer potential gains though risk is considerably higher. Such a company may have "going concern" problems, or company's future prospects may hinge on critical assumptions, such as (but not limited to) the company's ability to compete effectively in the marketplace, achieve most or all of its stated business goals, maintain sufficient financial liquidity and resources (from daily cash flow to capital for expansion) and the avoidance of legal or other pitfalls.

HOLD / "2"
Shares appear to be fairly valued and while there is no incentive to add such shares, there are similarly no current known compelling factors that would warrant selling absent a subsequent trading drop in value.

SELL / "1"
At present, shares appear to be overvalued.

AVOID / "1"
At present, shares appear to be significantly overvalued

SUSPENDED/"0"
Company has been suspended due to inability or unwillingness to provide continued access to the company by the assigned analyst, a violation of AIMR’s proposed Issuer Standards.

*What does "speculative" mean in a rating?
Companies with meager or no historical data or that are at the development stage, are generally considered highly SPECULATIVE. Such companies may even have "going concern" problems and an analyst recommendation should be considered only as a part of a total investigative process by anyone considering purchase. A speculative buy opinion generally refers to future valuations only if the company is able to achieve most or all of its business goals and avoid most or all of the possible risks, including raising sufficient capital and effectively competing in its marketplace. Any and all recommendations regarding the advisability of acquiring or trading will generally refer to such "speculative" considerations.