
OUR NEW PROFILE IS: (NYSE AMERICAN EFSH)
EFSH Boasts $90Million in Revenue guidance, a Market Cap of under $10MM and only 735,730 shares in the float
1847 Announces $1.95 Million Repayment of Convertible Notes-$6.4 million of outstanding debt and liabilities have been eliminated over the past two weeks
Check Out the Investor Presentation HERE
Hello Everyone,
Capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business.
Given this dynamic, 1847 Holdings (NYSE: EFSH) can consistently acquire businesses it views as “solid” for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations.
The end result? These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to EFSH’s ability to pay regular and special dividends to shareholders.
1847 seeks to invest in companies whose business models enable them to drive their own growth. We anticipate this will permit us to invest successfully, and develop deep expertise, in nine primary industries. Our experience and sector focus compounds our ability to evaluate and execute investment opportunities quickly, and add significant value post-closing.
1847 Holdings LLC (NYSE American:EFSH), was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and former Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings’ investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as “solid” for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings’ ability to pay regular and special dividends to shareholders.
EFSH Competitive Advantages
▪ Robust Network
▪ National network of personal relationships with intermediaries, seasoned operating executives, entrepreneurs and managers
▪ Disciplined Deal Sourcing
▪ Leverages relationships with more than 3,000 qualified deal sources through regular calling, mail and email campaigns, industry events, etc.
▪ Differentiated Acquisition Capabilities in the Small Business Market
▪ Concentrated efforts on mature companies with sustainable value propositions, which can be supported by its resources and institutional expertise
▪ Value Proposition for Business Owners
▪ Employ a creative, flexible approach by tailoring each acquisition structure tommeet liquidity needs and qualitative objectives of the target
▪ Operating Partner
▪ Consistently work with a strong network of seasoned operating partners, former executives with extensive experience building, managing, and optimizing successful small business across a range of industries
▪ Small Business Market Experience
▪ Since 2000, the management team has collectively been presented with several thousand investment opportunities and actively worked with 30 small businesses on all facets of strategy, development and operations
EFSH FINANCIAL HIGHLIGHTS
- Total revenue was $18.8M for Q3 2023 compared to $14.5M in Q3 2022, a 29.8% year-over-year increase!
- Gross profit was $8.0M in Q3 2023 compared to $4.9M in Q3 2022, a 64.9% year-over-year increase!
- 1847 Cabinets expanded their relationship with one of the nation’s leading home builders.
- The company completed refinancing and upsizing of $15 million revolving credit facility for its subsidiary, ICU Eyewear
- The company expanded its subsidiary, Wolo Manufacturing Corp, into India through a supply chain diversification program.
- The company restructured promissory notes to non-dilutive debt instruments.
ACQUISITIONS

1847 Holdings (NYSE: EFSH) has acquired ICU, a leading designer of Over-the-Counter (OTC), non-prescription reading glasses, sunglasses, blue light-blocking eyewear, sun readers, and outdoor specialty sunglasses in February 2023. ICU was founded in 1956 and is headquartered in Hollister, California.
ICU is a recognized leader in reading eyewear and sunglasses, as well as select health and personal care items. ICU has 10 brands and a comprehensive and innovative product offering of over 3,000 SKUs across the reading glass, sunglass, and health & personal care segments.
ICU’s customer base consists of a broad range of national, regional, and specialty retailers comprising over 7,500 retail locations. ICU is the only OTC eyewear supplier in the U.S. to have meaningful penetration in all significant retail channels including grocery, specialty, office supply, pharmacy, and outdoor sports stores.
Acquisition Highlights:
- Revenue in excess of $19M and $1.7M of adjusted EBTIDA in 2021.
- ICU has developed a highly profitable and sustainable business model, with solid financials, positive EBITDA, and a gross margin of approximately 40%.
- ICU has 10 brands and a comprehensive and innovative product offering of over 3,000 SKUs across the reading glass, sunglass, and health & personal care segments.
- ICU’s customer base consists of a broad range of national, regional, and specialty retailers comprising over 7,500 retail locations.
- The company’s eyewear line has earned the title of #1 provider of OTC eyewear at Target.

Kyle’s Custom Wood Shop, Inc.: Headquartered in Boise, ID, the company believes strong housing demand in the region is driven by out-of-state immigration into Idaho. Current operations are focused primarily in the Boise area, providing opportunities to capitalize on high-growth adjacent regions. In addition to regional expansion, EFSH plans to expand capacity by increasing the network of builders, participating in new bids, and investing in facilities and labor resources. Product line expansion and broadening sales channels to include multifamily housing remodels, and DIY segments could further accelerate growth.
Financial Highlights:
- Revenues from the construction segment (incl. Kyle’s) increased by $21,830,922, or 523.6%, to $26,000,227 for the nine months ended September 30, 2022 from $4,169,305 for the nine months ended September 30, 2021.
- Cost of sales for the construction segment increased by $13,555,821, or 594.6%, to $15,835,830 for the nine months ended September 30, 2022 from $2,280,009 for the nine months ended September 30, 2021.
- Gross profit was $10,164,397 and $1,889,296 for the nine months ended September 30, 2022 and 2021, respectively.

WOLO Manufacturing Corp.: A leader in horn technology (electric, air, truck marine, electronic specialty, air & backup alarms) and vehicle emergency warning lights offering the highest quality and the largest selection for cars, trucks, and industrial equipment. Wolo has supplied innovative automotive products: horns, emergency warning lights, security, and lighting, to the automotive aftermarket for more than 45 years.
The company sells its products to big-box national retail chains, through specialty and industrial distributors, as well as online/mail order retailers and OEMs. With a stellar reputation for innovative design, its current product line consists of over 455 products, including 54 patented products, as well as over 90 exclusive trademarks.
Financial Highlights:
- Revenues from the automotive supplies segment increased by $833,742, or 20.9% to $5,114,755 for the nine months ended September 30th, 2022 from $4,231.013 for the nine months ended September 30th, 2021.
- Cost of sales for the automotive supplies segment increased by $369,368, or 13.9%, to $3,028,040 for the nine months ended September 30th, 2022 from $2,658.672 for the nine months ended September 30, 2021.
- Gross profit was $2,086,715 and $1,572,341 for the nine months ended September 30, 2022 and 2021, respectively.

In October 2021, 1847 acquired High Mountain Door & Trim, Inc. & Innovative Cabinets & Design for an aggregate purchase price of approximately $15.4 million
Brief Overview
- ▪ High Mountain specializes in all aspects of finished carpentry products and services, including doors, door frames, base boards, crown molding, cabinetry, bathroom sinks and cabinets, bookcases, built-in closets, fireplace mantles, etc., working primarily with large homebuilders of single-family homes and commercial and multi- family developers
- ▪ Sierra Homes d/b/a Innovative Cabinets & Design specializes in custom cabinetry and countertops for a client base consisting of single-family homeowners, builders of multi-family homes, as well as commercial clients
Financial Highlights
- ▪ Revenues from the construction segment increased by $1,182,633, or 11.8%, to $11,230,579 for the three months ended September 30, 2023, from $10,047,946 for the three months ended September 30, 2022. The increase in revenues was primarily attributed to an increase in new multi-family projects and an increase in the average customer contract value.
- ▪ Cost of revenues for the construction segment decreased by $1,072,127, or 16.4%, to $5,472,716 for the three months ended September 30, 2023, from $6,544,843 for the three months ended September 30, 2022.
1847 Announces $1.95 Million Repayment of Convertible Notes
PUBLISHED
FEB 23, 2024 10:28AM EST
$6.4 million of outstanding debt and liabilities have been eliminated over the past week; further strengthening the Company’s balance sheet
New York, New York–(Newsfile Corp. – February 23, 2024) – 1847 Holdings LLC(NYSE American: EFSH) (“1847” or the “Company”), a unique holding company that combines the attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that it has successfully paid off $1.95 million in debt, following its recent public offering.
Mr. Ellery W. Roberts, CEO of 1847, commented, “We are pleased to announce the successful repayment of $1.95 million of convertible notes. By eliminating these convertible notes, we are enhancing our balance sheet and removing potential equity overhang. As part of our strategic balance sheet optimization initiative, over the past week, we have been able to eliminate $6.4 million of outstanding debt and liabilities. This transformative initiative reflects our commitment to transparency, clarity, and creating shareholder value. By restructuring our balance sheet, we are fortifying our financial foundation and better positioning our platform for growth and success. Through this enhanced structure, we can optimize capital allocation and unlock new opportunities for growth and value creation in 2024.”
1847 Reports 29.8% Increase in Revenue to $18.8 Million for Q3 2023
PUBLISHED
NOV 14, 2023 4:05PM EST
Gross profit increases 64.9% compared to the same period last year
NEW YORK, NY / ACCESSWIRE / November 14, 2023 / 1847 Holdings LLC(“1847” or the “Company”) (NYSE American:EFSH), a unique holding company that combines the attractive attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today provided a business update and reported financial results for the three months ended September 30, 2023.
Q3 2023 Highlights and Subsequent Events
- Total revenue was $18.8M for Q3 2023 compared to $14.5M in Q3 2022, a 29.8% year-over-year increase
- Gross profit was $8.0M in Q3 2023 compared to $4.9M in Q3 2022, a 64.9% year-over-year increase
- 1847 Cabinets expanded relationship with one of the nation’s leading home builders
- Regained compliance with NYSE American continued listing standards
- Completed refinancing and upsizing of $15 million revolving credit facility for its subsidiary, ICU Eyewear
- Expanded its subsidiary, Wolo Manufacturing Corp, into India through supply chain diversification program
- Restructured promissory notes to non-dilutive debt instruments
Mr. Ellery W. Roberts, CEO of 1847 Holdings, commented, “I am pleased to report that revenues for the third quarter of 2023 increased by 29.8% and our gross profit increased 64.9% over the same period last year. We attribute this performance to the strength of our platform and our ability to support the growth of our portfolio companies, while at the same time improving their profitability. During the quarter, we successfully restructured convertible notes to eliminate the potential equity dilution, and recently Egan-Jones affirmed their BB+ rating on our senior credit facility, which further illustrates the strength of our balance sheet. Importantly, our cash flow continues to improve and based on our current trajectory, we expect to achieve over 50% revenue growth in 2023. Heading into 2024, we expect to continue our strong revenue growth, which should significantly enhance our profitability as we leverage our fixed costs and benefit from economies of scale. We also believe that the intrinsic value of the business has not been recognized by the public market, and, as a result, we continue to explore a variety of strategic options which could include spinoffs of subsidiaries or privatization of the Company to maximize value for our shareholders.”
Q3 2023 Financial Highlights
Total revenues were $18,777,921 for the three months ended September 30, 2023, as compared to $14,472,361 for the three months ended September 30, 2022.
- Revenues from the retail and appliances segment decreased by $513,697, or 17.5%, to $2,421,008 for the three months ended September 30, 2023, from $2,934,705 for the three months ended September 30, 2022. The decline in revenues was primarily attributed to ongoing supply chain delays and decreased customer demand.
- Revenues for the retail and eyewear segment were $4,243,254 for the three months ended September 30, 2023.
- Revenues from the construction segment increased by $1,182,633, or 11.8%, to $11,230,579 for the three months ended September 30, 2023, from $10,047,946 for the three months ended September 30, 2022. The increase in revenues was primarily attributed to an increase in new multi-family projects and an increase in the average customer contract value.
- Revenues from the automotive supplies segment decreased by $606,630, or 40.7%, to $883,080 for the three months ended September 30, 2023, from $1,489,710 for the three months ended September 30, 2022. The decline in revenues was primarily attributed to ongoing supply chain delays with manufacturers and decreased customer demand.
Total cost of revenues was $10,737,174 for the three months ended September 30, 2023, as compared to $9,596,387 for the three months ended September 30, 2022.
- Cost of revenues for the retail and appliances segment decreased by $207,941, or 9.5%, to $1,976,031 for the three months ended September 30, 2023, from $2,183,972 for the three months ended September 30, 2022.
- Cost of revenues for the retail and eyewear segment was $2,662,586, or 62.7% of retail and eyewear revenues, for the three months ended September 30, 2023.
- Cost of revenues for the construction segment decreased by $1,072,127, or 16.4%, to $5,472,716 for the three months ended September 30, 2023, from $6,544,843 for the three months ended September 30, 2022.
- Cost of revenues for the automotive supplies segment decreased by $241,731, or 27.9%, to $625,841 for the three months ended September 30, 2023, from $867,572 for the three months ended September 30, 2022.
Total general and administrative expenses were $4,195,261 for the three months ended September 30, 2023, as compared to $2,505,571 for the three months ended September 30, 2022.
Net loss from continuing operations was $5,859,072 for the three months ended September 30, 2023, as compared to a net loss of $4,472,622 for the three months ended September 30, 2022. Such change was primarily due to interest expense of $5,074,169 and other expense of $187,200. Excluding this, the Company’s net loss from continuing operations for the three months ended September 30, 2023 would have been $597,703.
Nine Month 2023 Financial Highlights
Total revenues were $53,572,198 for the nine months ended September 30, 2023, as compared to $39,437,482 for the nine months ended September 30, 2022.
- Revenues from the retail and appliances segment decreased by $1,434,911, or 17.2%, to $6,887,589 for the nine months ended September 30, 2023, from $8,322,500 for the nine months ended September 30, 2022.
- Revenues for the retail and eyewear segment were $11,530,027 for the period from February 9, 2023 (date of acquisition) to September 30, 2023.
- Revenues from the construction segment increased by $5,646,972, or 21.7%, to $31,647,199 for the nine months ended September 30, 2023, from $26,000,227 for the nine months ended September 30, 2022.
Revenues from the automotive supplies segment decreased by $1,607,372, or 31.4%, to $3,507,383 for the nine months ended September 30, 2023 from $5,114,755 for the nine months ended September 30, 2022.
Total cost of revenues was $32,774,377 for the nine months ended September 30, 2023, as compared to $25,109,863 for the nine months ended September 30, 2022.
- Cost of revenues for the retail and appliances segment decreased by $784,127, or 12.6%, to $5,461,866 for the nine months ended September 30, 2023, from $6,245,993 for the nine months ended September 30, 2022.
- Cost of revenues for the retail and eyewear segment was $7,102,908, or 61.6% of retail and eyewear revenues, for the period from February 9, 2023(date of acquisition) to September 30, 2023.
- Cost of revenues for the construction segment increased by $2,212,564, or 14.0%, to $18,048,394 for the nine months ended September 30, 2023, from $15,835,830 for the nine months ended September 30, 2022.
- Cost of revenues for the automotive supplies segment decreased by $866,831, or 28.6%, to $2,161,209 for the nine months ended September 30, 2023, from $3,028,040 for the nine months ended September 30, 2022.
Total general and administrative expenses were $10,715,638 for the nine months ended September 30, 2023, as compared to $6,737,782 for the nine months ended September 30, 2022.
Net loss from continuing operations was $8,781,627 for the nine months ended September 30, 2023, as compared to a net loss of $5,547,498 for the nine months ended September 30, 2022. Such change was primarily due to interest expense of $9,747,299 and other expense of $135,232. Excluding this, the Company’s net income from continuing operations for the nine months ended September 30, 2023 would have been $1,100,904.
1847 Secures $750,000 Credit Facility for its Wolo Manufacturing Subsidiary
PUBLISHED
JAN 24, 2024 9:00AM EST
NEW YORK, NY / ACCESSWIRE / January 24, 2024 / 1847 Holdings LLC (“1847” or the “Company”) (NYSE American:EFSH), a unique holding company that combines the attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that it has secured a $750,000 credit facility for its Wolo Manufacturing Corp. (“Wolo”) subsidiary.
Wolo is a leading manufacturer and distributor of vehicle horns and safety products (electric, air, truck, marine, motorcycle and industrial equipment), and offers vehicle emergency and safety warning lights for cars, trucks, industrial equipment and emergency vehicles.
Mr. Ellery W. Roberts, CEO of 1847, commented, “We are pleased to have secured this credit facility for Wolo, a strategic move that empowers Wolo with working capital to fulfill orders due to strong customer demand. Furthermore, this facility strengthens Wolo’s liquidity and increases its financial flexibility, enabling it to grow its business without any equity dilution at either the 1847 or subsidiary level. With this enhanced credit capacity, combined with growing customer demand and easing of supply chain pressure, Wolo has the potential to increase its sales by 50% to 70% year-over-year in 2024.”
Additional details Wolo’s credit facility will be available upon the filing of a Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission and available on the Company’s website once filed.
NEWS
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1847 Holdings’ Hunt For Small Business Gems: How This PE Firm Finds Its Diamonds In The Rough
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1847 Announces $1.95 Million Repayment of Convertible Notes
PUBLISHED
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1847 Secures $1.0 Million Credit Facility to Address Accelerated Growth for its High Mountain Door & Trim Subsidiary
PUBLISHED
5 DAYS AGO
1847 Announces Strategic Divesture of 1847 Asien Inc. Subsidiary; Significantly Enhancing Balance Sheet and Shareholder Value
PUBLISHED
FEB 14, 2024
1847 Holdings LLC Announces Closing of $5.0 Million Public Offering
PUBLISHED
FEB 12, 2024
1847 Holdings Announces Positive Restatement of Financial Results for Subsidiary and Reduction in Loss from Operations of Approximately $3.6 Million and Increase in Assets of $642,000 for 2022
PUBLISHED
FEB 9, 2024
1847 Holdings LLC Announces Pricing of $5.0 Million Public Offering
PUBLISHED
JAN 24, 2024
1847 Secures $750,000 Credit Facility for its Wolo Manufacturing Subsidiary
PUBLISHED
DEC 27, 2023
1847 Holdings Announces 1-for-4 Reverse Split
PUBLISHED
NOV 14, 2023
1847 Reports 29.8% Increase in Revenue to $18.8 Million for Q3 2023
PUBLISHED
NOV 1, 2023
1847 Holdings’ Subsidiary 1847 Cabinets Announces Expanded Relationship with One of the Nation’s Leading Home Builders
PUBLISHED
OCT 3, 2023
1847 Holdings Regains Compliance with NYSE American Continued Listing Standards
PUBLISHED
SEP 21, 2023
1847 CEO to Participate in Investor Fireside Chat
PUBLISHED
SEP 18, 2023
1847 Engages Spartan Capital to Explore Strategic Options, Including Potential Privatization
PUBLISHED
SEP 12, 2023
1847 Subsidiary, ICU Eyewear, Successfully Completes Refinancing and Upsizing of $15 Million Revolving Credit Facility
MANAGEMENT TEAM
An Experienced CEO:
The company was founded by CEO Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and Principal of Lazard Freres Strategic Realty Investors.
Ellery W. Roberts leading the reins has helped elevate EFSH to an NYSE listing and his expertise could soon lead the company to much greater heights!
- Mr. Roberts has 20+ years of private equity investing experience; directly involved in $3+ billion transactions.
- He formed RW Capital Partners LLC, an investment manager approved by the Investment Committee of the U.S. Small Business Administration in 2010 to raise and manage a Small Business Investment Company.
- He previously was a Managing Director of Parallel Investment Partners LP, responsible for ~$400 million in invested capital across two funds.
- He served as a Principal at Lazard Freres & Co. working in their Real Estate Principal Investment Area, where he was a senior team member involved in the investment of over $2.4 billion of capital.
- Mr. Roberts worked at Colony Capital, Inc., a $625 million private equity fund.
- He has experience as an Investment Banker in the Corporate Finance division of Smith Barne.
“I’m pleased to report revenues increased by 27.6% to $15.4 million and we achieved net income of $1.0 million for the first quarter of 2023. At the same time, our gross profit increased 35.0% over the same period last year. These results are further validation of the strength of our platform and our ability to acquire undervalued, cash flow positive, lower-middle market businesses at attractive valuations with minimum dilution to shareholders. Importantly, we are reaffirming our prior guidance of revenue in excess of $90 million in 2023.”
CEO Ellery W. Roberts

Vernice L. Howard – Chief Financial Officer
Ms. Howard has served as Chief Financial Officer since September 2021. She has over 30 years of experience in the fields of finance and accounting. Prior to joining us, she worked for Independent Electrical Contractors, Inc. and its affiliates for over eleven years as Chief Financial Officer, where she was responsible for providing leadership to the organization in the areas of finance, human resources and general facilities administration, in addition to setting policies, procedures, strategies, practices and overseeing the organization’s assets. The foundation of Ms. Howard’s accounting and finance experience began with public accounting for several years gaining experience in tax and auditing in the entertainment and nonprofit sectors as Chief Financial Officer for The Cronkite Ward Company, a television production company, and Director of Finance for Community Action Group (CAG), a nonprofit organization. Before her work with Independent Electrical Contractors, Inc., Ms. Howard’s professional background established an emphasis in forensic accounting. Ms. Howard is a Founding Member of Chief, which is a DC based vetted network of C-level or rising VP’s supporting and connecting exceptional women. Ms. Howard holds a Master of Business Administration in Finance from Trinity Washington University Graduate School of Business Management and Bachelor of Science in Accounting from Duquesne University.

Glyn C. Milburn – Vice President of Operations
Mr. Milburn joined 1847 in February 2023 after serving as a member of the company’s board of directors since August 2022. Mr. Milburn brings diverse operational and strategic expertise across multiple sectors, including commercial finance, labor negotiations, and operations management.
Before joining 1847, Mr. Milburn served as a Director at Ygrene Energy Fund, a consumer finance company based in California. Mr. Milburn also served as Partner at Jimmy Blackman & Associates, a full-service government and public affairs firm, where he was responsible for business strategy, client management, communications, and campaign management for a client portfolio comprised of large public safety labor unions, banking/finance companies, and hotel operators across the state of California. Mr. Milburn has also served as a special assistant in the City of Los Angeles, where he held two positions, one in the office of Los Angeles Mayor Eric Garcetti’s Office of Economic Development and another in the office of Los Angeles City Council. Previously, Mr. Milburn served as Executive Vice President of Texas AF2 Holdings, managing a portfolio of sports franchises handling their operations, compliance, and strategic planning.
Mr. Milburn co-founded Provident Investment Advisors LLC, a special investment vehicle for energy, technology, and healthcare ventures, where he served as a managing member. Mr. Milburn also serves on the board of directors ofPolished.comInc. Mr. Milburn holds a B.A. degree in Public Policy from Stanford University and an M.B.A. from the Kelley School of Business at Indiana University.


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