By downloading from or viewing material on this website you agree to the following Terms and Conditions. Use of NINGI Research’s (“NINGI”, “we”, “our”) research is at your own risk. In no event should we or any affiliated party be liable for any direct or indirect trading losses caused by any information on this website. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any investment decision with respect to transacting in any securities covered herein. You should assume that, as of the date of our publications, we (possibly along with or through our members, partners, affiliates, and/or employees) have a direct or indirect short position in any security (including equity securities, options, swaps, other derivative securities, debt securities and/or CFD) covered herein and therefore stand to realize monetary gains in the event that the price of stock moves. We (possibly along with or through our members, partners, affiliates, and/or employees) intend to continue transacting in any security covered herein or mentioned in connection to our publications and may be long, short, and/or neutral at any time after the date of the publication regardless of our initial position and/or recommendation. Every document, information, data, analysis, and statement on this website and/or in our publications is expressed for educational purposes only and is expressed as an opinion, not a statement of fact. To the best of our ability and belief, all materials contained on this website or in any publication are accurate and reliable. All statements are based on a strict due diligence process, but all information on this website and/or in our publications is provided “as is” without warranties of any kind. We explicitly do not take responsibility and/or warranty with respect to the fitness of the information for any usage. Any statements are expressed as our personal opinions in a public forum, and our opinions consolidate the information of our own analysis. All materials on this website and/or in our publications are subject to any change without further notice. We expressed our opinion based on public information available in the respective jurisdiction. Any cited information based on a uniform resource locator is available through its respective URL on the date of the publication. We do not take any responsibility and/or warranty for the future availability of any cited information. None of the materials herein, in any of our publications, on this website, and/or any communication regarding this website and/or any of our publications should be considered an offer to sell or a solicitation of an offer to buy any security or investment product, nor do we intend to make any such an offer, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer would be unlawful under the securities laws of such jurisdiction, nor as investment advice or a recommendation to buy or sell any investment products or to make any type of investment, or as an opinion on the merits or otherwise of any particular investment or investment strategy. Please seek the advice of a registered security professional regarding any transaction or investment decision in your jurisdiction. NINGI Research is not a licensed or registered investment advisor in any jurisdiction. Any trading strategy or investment strategy mentioned, stated, or discussed on this website or/and in our publications is expressed for educational purposes only. Historical performance is not indicative of the future performance of any security or investment product. We do not take any responsibility and are in no event liable for any direct or indirect financial losses of any kind regarding any statements, figures, analysis, conclusions, or opinions stated, on this website, in our publications, or in connection with our publications or our website. We do not take part in any insider trading, and we do not use any material non-public information in our report or in any other publications. Any cited source can be accessed in the respective jurisdiction and was already publicly available before the distribution of our publications. If any provision in these terms is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.