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About SmithOnStocks - Disclosures |
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I believe that it is important to have one’s money where one’s mouth is so that in the most cases, employees of DLS Research, LLC and writers for SmithOnStocks will buy and sell stocks which are the subject of written articles appearing on the SmithOnStocks website. In the event that employees have a stock investment in a company, that ownership is fully disclosed. No employee is allowed to buy or sell a stock for two trading days prior to any written report or two trading days thereafter.
When a writer writes about a stock that he or she has a position or beneficial interest in, that fact is disclosed at the end of the article. In addition to these disclosure requirements, employees and writers must hold any stock they buy for at least 15 trading days.
SmithOnStocks is owned by DLS Research, LLC, a subscription research firm that was founded in 2003. DLS Research has performed due diligence for an institutional investor that was instrumental in its decision to invest in equities of certain companies. As part of that investment the institutional investor received warrants. DLS Research, LLC has no ownership in any of these warrants, but may receive cash compensation if the warrants obtained are exercised; this is a component of the consulting fee received for the due diligence. This type of agreement applies to the following companies: Acadia Pharmaceuticals, Access Pharmaceuticals, Athersys, BioSante Pharmaceuticals, Corcept Therapeutics, Cyclacel Pharmaceuticals, Discovery Laboratories, Mela Sciences, Oxigene, Soligenix and XOMA. |