Important Notes / Legal Notes / Disclaimer

Financial Research & Publication Ltd  operates the website  , called „web pages“ below.

The contents of the „web pages“, the newsletters and other publications are prepared with the utmost care. Despite all care in the preparation, Financial Research & Publication Ltd assume no liability or responsibility for the correctness, completeness and timeliness of the information contained in the content provided. Furthermore, the relevance of any price forecasts / price targets is not guaranteed in any way whatsoever. The use of the content of the „web pages“, the newsletters and other publications is at the user’s own risk. The web offer is intended for users resident in the Federal Republic of Germany, Switzerland and Austria. The web page is not intended for users who are resident in countries other than those mentioned above, have been or are otherwise subject to the regulations of other countries. Financial Research & Publication Ltd does not assume any liability or guarantee that the information contained in this web page is in accordance with the laws of other states than the Federal Republic of Germany, Switzerland and Austria.

All publications (eg. interviews, articles, short reports, featured company reports, stock market letters, newsletters, sample portfolios, chart-technical assumptions etc.) are for information purposes only and do not constitute trade recommendations regarding the purchase or sale of the instruments discussed. All publications are not to be equated with professional financial analysis but merely reflect the opinion of the website operator (and / or its internal or external editorial staff or business partners). Our produced content has a journalistic nature. The website operator and the authors of all website content assume no responsibility for the topicality, correctness or completeness of the information contained in the publications. The website operator and the external authors are not investment advisors.

The subject of published financial analysis or website content may be shares of companies that have a low market capitalization. Especially for companies with a low market capitalization, investors often have to expect high volatility or low market liquidity.

The subject of the published content on the websites are mostly stocks, that are associated with major price risks and are therefore unsuitable for inexperienced or risk-averse investors. This is especially true for all Over The Counter (OTC), i.e. the so-called outside of a monitored stock exchange or regulated market. The same applies to shares that are traded on the Australian Stock Exchange (ASX), on Canadian stock exchanges (i.e. Toronto or Vancouver) or on the Alternative Investment Market (AIM), a segment of the London Stock Exchange. The shares we analyzed or feature at our web pages are frequently traded on any of these markets in which they are segments of the highest risk category. Instruments which are traded, are threatened at any time by the possibility of a total loss, high volatility and the possibility of reduced liquidity and marketability in particular due to low trading volumes. High price opportunities are faced with enormous risks.

All of the information contained in the „web pages“, the newsletters or other published content neither constitutes a solicitation nor an offer to sell or purchase any investment or for making other transactions. It is also not a recommendation in the context of investment advice.

Any forecasts or opinions expressed reflect our own, subjective and current views of the publisher and are for guidance and information only. The „web pages“ do not consider specific investment objectives, financial situation or particular needs of individual users. The securities and financial instruments presented on these „web pages“ may not be suitable as an investment instrument for every user. Please do your own Due Dilligence.

Published financial analysis or other published content include only a non-binding expression to the investment instruments and market conditions at the time of publication of the document. An assessment of the company, in particular to share price targets may change without notice. All data and information obtained are from sources the publisher believes to be trustworthy and reliable at the time of the preparation. Despite all care in the preparation of research papers / reports / web page content from the publisher / the author assumes no liability or responsibility whatsoever for the correctness, completeness and accuracy of the information contained in the reports and for losses that may arise from any errors, omissions or inaccuracies. Liability claims against Financial Research & Publication Ltd or the authors which refer to damages of a material or immaterial nature caused by use or disuse of information are generally excluded, unless it is intentional or is due to grossly negligent behavior by the author or Financial Research & Publication Ltd. In particular, Financial Research & Publication Ltd does not guarantee that said projections prove to be accurate, or that price targets / possible future company values will be reached. Furthermore, neither the document nor the information contained in it form the basis for any contract or obligation of any kind.

Financial Research & Publication Ltd assumes no liability for trade ideas, market forecasts and other information made available. This is in no way a call for individual or general reproduction. The background information, trade ideas, market forecasts and securities analyzes by Financial Research & Publication Ltd published on its „web pages“, does not constitute an offer for sale of the listings handled nor a solicitation to buy or sell shares, but also not of commodities, currencies, other securities or structured and derivative financial products. The versions are based on sources the editor believes to be trustworthy.

Although the conclusions and statements contained in the analysis, publications and market assessments have been drawn with reasonable diligence, we assume no responsibility or liability for errors, omissions or incorrect information. This is also true for all of the opinions expressed by our interlocutors in the interviews, figures and expressions. Before a customer makes investment decisions, he should have carefully gathered information about the opportunities and risks of the investment. A positive performance of a financial product in the past can in no way be an indication of a future performance. The reader is urged to check all information and allegations himself. An investment in the featured, sometimes highly speculative shares should not be made without analyzing and reading the latest balance sheets, assets reports and press releases of the company. Material on this website may contain technical or inaccuracies, typographical errors or omissions, for which we assumes no responsibility. Price forecasts for financial instruments in our stock market bulletins and newsletters do not constitute a financial analysis / investment recommendation, they are based purely on subjective technical chart based forecasts of the author.

Any investment in the Profiled Issuers involves a high degree of risk and uncertainties and may be subject to extreme volume and price volatility, especially during ‘Market Awareness Campaigns’. When those campaigns ends, the securities of a Profiled Issuer often decline substantially.

The Information is presented only as a brief snapshot of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other advisor(s) and avail yourself of the filings and information that may be accessed at ,, , or other electronic medium.

Our published content often contain forward looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as expects, will, anticipates, and estimates; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and our bespoken profiled Issuer (client) as well as any such forward looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made and we do not undertake to update forward looking statements that may change at any time.

Disclosure of Interest:

Information pursuant to Section § 34b of the German Securities Trading Act [WpHG] and to Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014, on market abuse (market abuse regulation)

An individual disclosure regarding securities positions of the publisher and the authors and / or the remuneration of the publisher or the authors by the company or third parties involved in publications are expressly stated in or under the respective publication. This also applies to options and derivatives based on these securities.

The website operator provides companies with marketing and advertising services. We will be compensated for advertising services by these featured companies (sponsors) or by external third parties (e.g. consultants, who have business relationship with the companies). Here is a conflict of interest. Furthermore, a consulting or other service contract may exist or existed between the featured companies promoted on our websites and Financial Research & Publication Ltd, which also constitutes a conflict of interest. Since we can at no time rule out that other media, research provider or stock promotors publish articles or feature our clients during the same period, a symmetrical generation of information and opinion can occur. Nor can it be ruled out that companies that have booked modules to increase market awareness at our websites will not use other service providers in parallel.

We are compensated by featured companies (sponsors) on our website for advertising and maketing services.  We are unable to verify all of the data released by public companies or its management.  Featured companies are only profiled, we do not recommend stocks to buy or sell.  We cannot guarantee all information are accurate and we may make forward looking statements that are uncertain and risky.

Financial Research & Publication Ltd or employees of the Company may at any time conduct buy or sell transactions in the shares of the featured companies (i.e. long or short positions). This also applies to options and derivatives, based on these securities. Those transactions may affect the respective company’s stock price under certain circumstances. Published information on the „web pages“, the newsletters, recommendations, interviews and company presentations are often paid by the respective company or third parties (so-called „third parties“). The „third parties“ include, for example, Investor Relations, Public Relations, Consultants, Brokers and Investors. Financial Research & Publication Ltd may partly directly or indirectly be compensated for the preparation and electronic distribution and other services in cash, and/-or shares / options by the so-called „third party” or direct by featured company. Even if we create each analysis and other content to the best of knowledge and belief and professional standards, we advise you to involve further external sources, such as your local bank or a consultant you trust regarding your investment decisions.

Information and analysis provided is for entertainment, informational and educational purposes only. Nothing in an article, research report, Newsletter, stock report, commentaries interview and other published content constitutes or can be construed as investment advice or an offer or solicitation to buy or sell a stock.

Articles, interviews or other content is based on public information and conversations with Management or company employees. We are unable to verify all of the data released by public companies or its management. Featured companies are only profiled, we do not recommend stocks to buy or sell. We cannot guarantee all information are accurate and reliable. The information may not be complete or correct. We may make forward looking statements that are uncertain and risky.

We require our staff and independent external authors and clients to disclose their positions in individual securities that are mentioned in a publication that they author and that is featured on our website and written content.

IMPORTANT: Although we require our staff and independent external authors and clients to disclose their positions in individual securities that are mentioned in a publication that they author and that is featured on our websites and publications, we cannot and will not guarantee that the information they disclose or fail to disclose is accurate, honest, truthful and complete.

In addition, portions of our websites may contain opinions that are different from other portions of our websites. Our stuff, external authors, clients, advertisers and agents may, from time to time, have long and short positions in, or buy or sell the securities, or derivatives thereof, of companies mentioned in respective website or other published content and may take positions inconsistent with the views expressed in the content.

We may hire third party service providers to electronically disseminate live news and content regarding our clients / our profiled Issuers, yet we have no control over the content of and do not verify the information that the Profiled Issuers and/or third party service providers publish. These third party service providers are likely compensated for providing positive information about the Issuer even where such compensation is not disclosed by them.

No guarantee of price data

Financial Research & Publication Ltd does not assume any liability for the accuracy of the charts and data of commodities, currency and equity markets presented in the „web pages“, in the newsletters and all produced content. Displayed prices and data may be time-delayed and out-of-date.


Financial Research & Publication Ltd

20-22 Wenlock Road

London N1 7GU


E-Mail: [email protected]

Register court: London

Corporate number: 8514036

Resonsible person: Paul Miller

Tel. 0044 20 3608 1991

Limitation of liability of web page content:

The content of the „web pages“, the newsletters, stock reports and other publications are prepared with the utmost care. The provider accepts no responsibility for the accuracy, completeness or timeliness of the content. The provider accepts no responsibility or liability for the the accuarcy, correctness or adequancy of translated company data / content. Please note the original english informations on,, or data on the company website!

The use of the content of the „web pages“ is at the user’s own risk. Contributions mentioned by name reflect the opinion of the author and not necessarily the opinion of the provider.
As a service provider we are responsible according to § 7 paragraph 1 of TMG for our own contents on these pages under the general law. According to §§ 8 to 10 TMG, we are not obligated as a service provider to monitor transmitted or stored information, or to investigate circumstances that indicate illegal activity. Obligations to remove or block access to information under the general laws remain unaffected. However, a relevant liability is only possible from the date of knowledge of a specific infringement. Upon notification of such violations, we will remove the content immediately.

Limitation of liability for links:

The „web pages“ and the newsletters contain links to third-party websites („external links“). These web pages are the responsibility of the respective operators. Financial Research & Publication Ltd has no influence over the current and future design and content of linked pages. The inclusion of external links does not imply that Financial Research & Publication Ltd adopts the content behind the reference or link as its own. Constant monitoring of these external links is unreasonable for Financial Research & Publication Ltd without concrete evidence of violations. With knowledge of violation of rights, such external links will be deleted immediately. If you come across a page whose content (in whatever form) violates applicable law or its contents (topics), and persons or groups or discriminated against you in any manner, please inform Financial Research & Publication Ltd immediately.

 „In a judgment of 12 May 1998, the District Court of Hamburg decided that one has also to account for the inclusion of the contents of a link on the linked pages. This can only be avoided by expressly distancing oneself from this content. For all links on this homepage: We hereby disassociate ourselves expressly from all contents of all linked pages on our „web pages“ and in the newsletters, stock reports and we do not adopt them.“

Limitation of Liability for availability of the website

Financial Research & Publication Ltd endeavors to provide the service without disruption to the schedule to the extent possible. However, even with great care, we cannot exclude any interruptions. Financial Research & Publication Ltd reserves the right to change this information at any time or to discontinue it.


Liability for transmission errors

Financial Research & Publication Ltd is not responsible for the timely, complete and accurate transmission of the information and data provided.


Limitation of Liability for advertisements

Solely the author or the advertizing company is responsible for the content of advertisements on the „web pages“ or in the newsletters, as well as the content of the advertized website and the products and services advertized. The presentation of the advertisement does not constitute any acceptance by Financial Research & Publication Ltd.


No contractual relationship

Using the „web pages“, the newsletters or other publications does not result in the establishment of a contractual relationship between the user and Financial Research & Publication Ltd. To that extent also no contractual or quasi-contractual claims are asserted against the provider.


Liability for Acts of God

Financial Research & Publication Ltd is not liable for damages caused by acts of God, riots, war, natural disasters or other events for which it is not responsible for (e.g. strikes, lock-outs, traffic disruptions, orders from higher authorities at home or abroad) or can be attributed to technical problems that are not caused culpably (such as the computerized system). Force majeure also includes computer viruses or intentional attacks on computer systems and telecommunications means by „hackers“, provided that appropriate measures have been taken against them.

Copyright and intellectual property rights:

The information published on the „web pages“ in the newsletters and in our other publications is subject to German copyright and intellectual property law. Any use not permitted by German copyright and ancillary copyright law requires the prior written consent of the provider or their respective owners. This is especially true for copying, editing, translating, storing, processing and reproducing contents in databases or other electronic media and systems. Content and rights of third parties are marked as such. The unauthorized reproduction or distribution of individual contents or complete pages is prohibited and punishable by law. Only the production of copies and downloads for personal, private and non-commercial use only.

Links to the „web pages“ of Financial Research & Publication Ltd are always welcome and do not require approval of the provider’s web page. The presentation of this web page in other frames is only allowed with written permission of Financial Research & Publication Ltd.

Privacy of personal data:

The personal information that you have supplied to Financial Research & Publication Ltd in individual cases (e.g. name and email address on contact/newsletter) will be treated by Financial Research & Publication Ltd especially carefully. By visiting the „web pages“ of Financial Research & Publication Ltd, information about access (date, time, page viewed) are stored on a server. Disclosure to third parties for commercial or noncommercial purposes, does not take place.

Financial Research & Publication Ltd expressly points out that data transmission over the Internet may be vulnerable (e.g. communication by e-mail) and cannot be completely protected against unauthorized access by third parties.

The use of the contact information for commercial purposes is not permitted unless the provider has given his written consent or there is already a business relationship. Financial Research & Publication Ltd and all persons named on this web page hereby object to any commercial use and disclosure of their data.

You can view our complete data privacy policy at the following link: LINK

Applicable law

Only the relevant laws of England are applied. Place of performance and jurisdiction for all disputes between the parties is London.