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Investing in securities is highly speculative and carries a high degree of risk. It is possible that an subscribers' and other investors' entire investment may be lost or impaired due to the speculative nature of investing in the stock market. Although Jalexa and its third party service providers attempt to provide accurate and timely information, neither Jalexa nor its third party service providers guarantee the accuracy, timeliness, or completeness of such information, and provide no warranty regarding any results from the use of or reliance on such information. Assumptions, opinions and estimates have been made in the judgment of the employees, consultants or analysts of Jalexa and its third party service providers (collectively "Employees") as of the date the materials are first made available on the site, and are subject to change without notice. The materials may quickly become unreliable for reasons including changes in economic circumstances, and Jalexa and its third party service providers are not obligated to update the materials at all or within a designated time period. Nothing contained in the site or the materials shall be deemed a solicitation, recommendation, endorsement, or offer by Jalexa or its third party service providers to buy or sell any securities or other financial instruments.

All subscribers and other investors should make their own decisions, conduct their own research and due diligence, and obtain professional advice prior to making any investment decision. Securities, financial instruments, or strategies described in the materials may not be suitable for all subscribers and other investors. The materials do not take into account any particular investment objectives, financial situations or needs, and are not intended as a recommendation of particular securities, financial instruments or strategies to any specific subscribers or other investors. Before acting on any information in the materials, subscribers and other investors should consider whether it is suitable for their particular circumstances and, if necessary, seek professional advice. Subscribers and other investors should not merely copy stock profiles or recommendations offered by Jalexa. The research of subscribers and other investors should include, but is not limited to, each company's quarterly and annual reports, SEC filings, press releases and financial statistics. Information that may be helpful in doing such research may be found at websites, including without limitation the Securities and Exchange Commission at http://www.sec.gov, the National Association of Securities Dealers at www.nasd.com, and the SEC's EDGAR web site at http://www.sec.gov/edgar.shtml.

The Site and the Materials may contain predictions regarding the future performance of certain stocks, which may be construed as "forward-looking statements" within the language of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Risks, uncertainties, changes, conditions, and unforeseen acts, can materially and adversely alter the expectations contained in any such forward looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance may be considered "forward-looking statements". Forward-looking statements may be identified through the use of words such as "expect", "anticipate", "estimate", "believe", or by statements indicating certain actions "may", "could", or "might" occur; among others. Forward-looking statements are inherently uncertain, and the actual results may differ from our expectations. Past performance of any stock profiled by Jalexa or a Third Party Content Provider is not indicative of future results. At no time should any past performance be used to predict future returns, and we make no guarantee of any future performance, volatility, volume, or price increases or decreases of any security we profile.

Neither Jalexa nor its third party service providers is an investment adviser within the meaning of any federal or state law, rule or regulation or a fiduciary to any subscriber or other investor under any federal or state law, rule or regulation including without limitation the federal Employee Retirement Income Security Act of 1974. No client, advisory, fiduciary, or professional relationship is implicated or established between any subscriber or other investor and Jalexa or any third party service provider. Neither Jalexa nor any third party service provider is engaged in providing auditing, accounting, financial tax, legal, advisory consultant or other professional service or advice.

The views expressed in the materials reflect the personal views of the Employees. No part of the Employees' compensation is directly or indirectly related to the specific recommendations or views expressed in the materials. Employees or directors of Jalexa or its third party service providers may or may not actively trade in investments discussed on this site or in the materials (whether before or after information regarding investments is made available on the site or in the materials), and they may increase or decrease these positions without notice. Information provided on the site and in the materials should not be regarded as legal, tax, accounting or investment advice.

The information provided on this site may include information provided by outside sources, such as research reports, public filings or computer databases and information provided to Jalexa by management of the profiled company. Jalexa does not represent, warrant or guarantee the accuracy or completeness of the disclosures by the profiled companies. Subscribers and other investors should not rely solely on the information presented, but should use the information provided by the profiled companies as a starting point for doing additional independent research on the profiled companies in order to allow the investor to form his or her own opinion regarding investing in the profiled companies. The receipt of this information shall not create, under any circumstances, any implication that there has been no change in the affairs of the company profiled since the date of the review. The analyses contained in this site are not complete studies of the featured companies. Jalexa makes no claim that it has fully investigated the financial, accounting or business practices of the companies or markets that we have profiled.

There are numerous risks involved in trading in securities, including using the Phoenix Stock Trading System. This disclosure does not cover all of the risks involved in trading, and subscribers and other investors should consult with their own advisers regarding these risks. The securities markets are highly efficient and successful trading requires skill. Trading in securities is a highly speculative activity, and traders must ensure that they are able to bear all losses. There can be no assurance that the investment objectives of subscribers and other investors will be achieved or that subscribers or other investors using the Phoenix Stock Trading System will not lose all or a portion of its investments. The investment returns and principal value of securities will fluctuate over time. All investments carry a degree of risk, and it is important to review investment objectives, risk tolerance, tax objectives, and liquidity needs before choosing an investment style.

The Phoenix Stock Trading System recommendations may include short sales, which generally involve an even higher degree of risk than other transactions. Short sales are transactions in which an investor sells a security it does not own, in anticipation of a decline in the market value of the security. To complete the transaction, the investor must borrow the security to make delivery to the buyer. The investor is obligated to replace the borrowed security by purchasing it at the market price at or prior to the time of replacement. The price at the time of replacement may be more or less than the price at which the security was sold by the investor. The investor is also required to repay the lender any dividends or interest that may accrue during the period of the loan. To borrow the security, the investor may be required to pay a premium, which would increase the cost of the security sold. As with all securities transactions, transaction costs will also be incurred in effecting short sales.

The investor will incur a loss as a result of the short sale if the price of the security increases between the date of the short sale and the date on which the investor replaces the borrowed security. A gain will be realized if the security declines in price between those dates. The amount of any gain will be decreased, and the amount of any loss increased, by the amount of the premium, dividends, interest or expenses the investor may be required to pay in connection with a short sale. An increase in the value of a security sold short by the investor over the price at which it was sold short will result in a loss to the investor, and there can be no assurance that the investor will be able to close out the position at any particular time or at an acceptable price. The investor's market risk in connection with a short sale is unlimited in that the increase in the market price of the security sold short is unlimited. Other types of securities, including options, carry their own special risks. Subscribers and other investors should consult with their advisers before implementing any Phoenix Stock Trading System recommendations.

Past performance does not guarantee, and is not indicative of, future results. Performance results shown on this website reflect the performance of hypothetical accounts and do not reflect the performance that can be expected by another account. The performance results shown do not reflect the reinvestment of dividends and other earnings, if any, but do reflect the deduction of model trading and other expenses, which may be higher or lower than actual expenses incurred by subscribers or other investors. The hypothetical model portfolios on which the performance results shown are based cannot be replicated because of differences in market conditions; subscriber-imposed and other investor investment restrictions; the timing of investments and withdrawals; tax considerations; economies of scale; portfolio turnover; the number, type, availability, and diversity of securities that can be purchased at a given time; and other factors. The performance results of subscribers and other investors may vary significantly from the performance results shown on this site and will depend primarily on their skill in making investments. No chart, formula, investment style, or other device should in and of itself be used to determine which securities to buy or sell, or when to buy or sell them.

Jalexa and its members, employees, affiliates and subscribers may have long or short positions (or options or warrants relating to such positions) in any of the securities or sectors discussed on the site and may purchase or sell these securities, options or warrants from time to time in the open market or otherwise, which may be at different times (including prior to information regarding those securities or sectors is made available on the site) and prices than those reflected on the site.

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