I, Terence Brogan, certify that the views expressed in this research report accurately reflect my personal views about the subject companies and their securities. I also certify that I have not been and will not be receiving direct or indirect compensation in exchange for expressing the specific recommendations in this report. My compensation is not based on investment banking revenues.

    Wellington Shields has not managed or co-managed a public offering of securities for the subject company in the past twelve months.


    “Risks and Price Targets.
    Price targets are based on technical analysis using proprietary money flow measures. Please request methodology for definitions. Price targets are short term in nature.  A short-term idea offers a short-term view on how a security may trade, based on market and trading events, and the resulting trading opportunity that may be available.   A short-term trade idea may differ from the price targets and recommendations in WSC published research reports reflecting the analyst’s view of the longer-term prospects of the subject company, as a result of the differing time horizon, methodologies and/or other factors.  Risks to achievement of price targets include: General economic and market conditions, company specific factors such as management changes, competitive pressures, and fundamental developments such as earnings and sales shortfalls.  Companies specifically mentioned in this report are the subject of this technical report only. Wellington Shields does not intend to provide continuing technical coverage of any company mentioned in this report.  Investors should consider technical coverage of each company mentioned in this report terminated.


    Buy = Accumulate a long position in the recommended security at or near the recommended price.
    Sell = Liquidate a long position in the recommended security at or near the recommended price.
    Sell Short = Sell borrowed security at or near recommended price.
    Cover Short = Buy borrowed security at a market order.
    Stop-Loss = A specific price level where we will sell the stock as a market order to limit loss (Risk Management).
    Upside Target = A specific price level where we will sell the stock (Upside Profit Potential).
    Downside Target = A specific price level where we will buy to cover the short position (Downside Profit Potential).
    MoneyFlow & Relative Performance = Please request methodology for definitions



    Other Disclosures & Disclaimers:

    Brogan household members do not hold positions in the companies mentioned in this report.

    This research report and recommendations agree with the personal opinion of the individual who prepared this report.  The Brogan Group operates as a division of Wellington Shields & Co. LLC.

    Any financial interest that the research analyst or member of the analyst’s household or any other individual directly involved with the preparation of this report has in the subject company, has been disclosed in the Important Disclosures section.

    Investing is a risky activity and can lead to substantial losses. This report does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The securities discussed in this report may not be suitable for all investors. Wellington Shields & Co. LLC recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.

    This report is not an offer to buy or sell any security or to participate in any trading strategy. Wellington Shields & Co. LLC and/or its employees not involved in the preparation of this report may have investments in securities or derivatives of securities of companies mentioned in this report, and may trade them in ways different from those discussed in this report. Derivatives may be issued by Wellington Shields & Co. LLC or associated persons. The firm does not make a
    market in the shares of the companies mentioned, has no relationship with them, and has not received any compensation from them.

    Wellington Shields & Co. LLC makes every effort to use reliable, comprehensive information, but we make no representation that it is accurate or complete. We have no obligation to tell you when opinions or information in this report change apart from when we intend to discontinue research coverage of a subject company.