Terms of Service

By downloading from or viewing material on this website, you agree to the following Terms of Service. You agree that use of the research on this website is at your own risk. In no event will you hold Night Market Research or any affiliated party, including officers, directors, employees and agents of Night Market Research or any affiliated companies, liable for any direct or indirect losses caused by any your use of information on this site. You further agree to do your own research and due diligence before making any investment decision with respect to securities covered herein. You represent that you have sufficient investment sophistication to critically assess the information, analysis and opinion on this site. You further agree that you will not communicate the contents of reports and other materials on this site to any other person unless that person has agreed to be bound by these same terms of service. If you download or receive the contents of reports or other materials on this site as an agent for any other person, you are binding your principal to these same Terms of Service.

You should assume that as of the publication date of our reports and research, Night Market Research and possibly any affiliated companies and their members, partners, employees, consultants, clients and/or investors have a short position in all stocks (and/or options, swaps, and other derivatives related to the stock) and bonds of companies covered in such reports and research. They therefore stand to realize significant gains in the event that the prices of either equity or debt securities of the subject companies decline. Night Market Research and affiliates intend to continue transactions in the securities of issuers covered on this site for an indefinite period, and they may be long, short, or neutral at any time hereafter regardless of initial position and/or views described in research.  Night Market Research will not update any report or information on this website to reflect such positions or changes in such positions.