SINGULAR RESEARCH 22287 MULHOLLAND HWY #417 CALABASS, CA 91302 - PowerPoint PPT Presentation

SINGULAR RESEARCH 22287 MULHOLLAND HWY #417 CALABASS, CA 91302 www.singularresearch.com

IMPORTANT DISCLOSURES DISCLOSURES The following disclosures relate to relationships between Singular Research and Millennium Asset Management, LLC (“Millennium”) and companies covered by Singular Research and referred to in research reports. This report has been prepared by Singular Research, a wholly owned subsidiary of Millennium which is an investment advisor registered in the State of California. Singular Research receives fees from Millennium for the right to use and distribute research reports prepared by Singular Research. Millennium does and seeks to do business with companies covered in Singular Research’s research reports. Millennium may receive fees from issuers that are the subject of research reports prepared by Singular Research for investor and public relations and other marketing-related services provided to such issuers by Millennium. As a result, investors should be aware that Singular Research and Millennium may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.

Why Singular Research? • Superior Track Record • Focus On Uncovered & Under covered Small & Micro Caps • Traditional Fundamental Analysis • Independent Equity Research  No Paid-for Research  Analysts Maintain Corporate Mgmt Contact  Institutional Managers Only • Experienced Staff Of Analysts • Attractive Value Proposition/Superior ROI

Superior Cumulative Track Record (8/2004 through 12/2016) Singular Research is up 328.3% through December 2016, compared to the Russell 2000 at 153.5%. Singular Research Vs. Russell 2000 350% 300% 250% 328.3% 200% 150% 100% 153.5% 50% 0% -50% Singular Research List Russell 2000

Research Graphs

Singular Research Buyouts Singular Research Buyout List 1. USHS US Home Systems 8/7/2012 2. INMD Integramed America Inc. 6/11/2012 3. TRCR Transcend Services Inc. 3/7/2012 4. SYNO Synovis 12/16/2011 5. AMN Ameron 7/6/2011 6. XJT ExpressJet Holdings 8/5/2010 7. ITIG Intelligroup 6/15/2010 8. VRAD Virtual Radiologic 5/27/2010 9. BNE Bowne & Co. Inc. 2/25/2010 10. AMPH American Physicians Serv Group 8/23/2007 11. OUTL Outlook Group 7/24/2006 12. DRTK Duratek 2/7/2006 13. LEIX Lowrance Electronics 2/1/2006

Alpha Added To Investment Process • 35-50 Names On Dynamic Coverage List • 15-25 New Initiations Yearly • 15-25 Dropped From Coverage Yearly • Buyouts Enhance Alpha

Focus On Uncovered and Under Covered Equities Analyst Coverage Makes a Big Difference • Firms without research coverage can be expected to trade 32% lower than if they had even one analyst following them & the bid/offer spread can be 50% wider. ( According to a study conducted by Equity Development research firm ) • This is the universe we select our names from • No Paid-for Research 100% 100% 90% 90% 80% 80% 70% 70% 60% 60% 50% 50% 40% 40% 30% 30% 20% 20% 10% 10% 0% 0% Lacking Coverage Lacking Coverage With Coverage With Coverage

Stock Selection Process • Uncovered & Under Covered Names Uncovered & Under Covered Names • Quantitative Proprietary Screening Quantitative Proprietary Screening • Market Intelligence Market Intelligence • Analyst Experience and Relationships Analyst Experience and Relationships

Experienced Staff of Analysts Eight Analysts And Growing • Portfolio Management, Buy-side & Sell-side experience • Eight CFA’s • Three MBA’S • Over 150 Years Total Finance & Investment Experience

Media Validation Featured in : • Institutional Investors • Barron’s • Forbes • Bloomberg • Fox News • Investor Business Daily • CNBC • Wall Street Journal

Award Winning Research Singular Research Analysts Win 24-star Starmine Awards In 2012! Institutional Investor Magazine awarded Singular Research their top stock pick for 2004 for coverage on Small-cap beverage maker Hansen Natural Corp., (Monster Energy Drink), and had a compound annual return of Singular Research Named to 332.90 percent. Top Performers List by First Coverage Singular Research Clients Recognized For Over Singular Research Clients Recognized For Over-Performance! Performance!

Singular Platinum Service • Web Site Access • Email Alerts  All Initiations  All Updates • Direct Analyst Contact  Drill Down Value Call • Analyst Call  Periodically Driven  Compelling Reasons • Corporate Access 1-1 • Conference Invitation

Attractive Value Proposition Hiring In-House Research Analyst Hiring Singular Research •  8 CFA Analysts $120,000 - $150,000 Salary •  Over 150 years of Experience Cost of Benefits •  Dynamic Coverage List One Analyst •  20-25 new initiations yearly Limited Coverage  40-65 companies under coverage  Superior Track Record  Industry Awards for Accuracy

SINGULAR RESEARCH 22287 MULHOLLAND HWY #417 CALABASS, CA 91302 www.singularresearch.com