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As of the publication date of a Citron Research report, Citron Related Persons (possibly along with or through its members, partners, affiliates, employees, and/or consultants) may have a position (long or short) in one or more of the securities of a Covered Issuer (and/or options, swaps, and other derivatives related to one or more of these securities), and therefore may realize significant gains in the event that the prices of a Covered Issuer’s securities decline or appreciate. Citron Research and/or the Citron Related Persons may continue to transact in Covered Issuers’ securities for an indefinite period after an initial report on a Covered Issuer, and such position(s) may be long, short, or neutral at any time hereafter regardless of their initial position(s) and views as stated in the Citron Research report. Citron Research will not update any report or information to reflect changes in positions that may be held by a Citron Related Person.
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