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Terms of Use

The content on this website has been prepared by Nick Winkler Inc. Each report is for informational purposes only. Under no circumstances should any of these reports or any information herein be construed as investment advice, or as an offer to sell or the solicitation of an offer to buy any securities or other financial instruments. 


Nick Winkler Inc. is an online publisher that produces investigative financial research reports on publicly traded securities. Nick Winkler Inc. is not an investment adviser registered with the U.S. Securities and Exchange Commission. Nick Winkler Inc. does not hold or trade in any of the securities mentioned in the research reports produced though you should assume Nick Winkler Inc.’s Related Persons do.


By downloading from, or viewing material on this website, you agree to the following Terms of Use. 


You agree that use of the research on this website is at your own risk. You (or any person you are acting as agent for) agree to hold harmless Nick Winkler Inc. and related parties, including, but not limited to any principals, officers, directors, employees, subscribers, clients, consultants and agents (collectively, the “Nick Winkler Inc. Related Persons”) for any direct or indirect losses (including trading losses) attributable to any information on this website or in a research report. You further agree to do your own research and due diligence before making any investment decision with respect to securities of the issuers covered herein (each, a “Covered Issuer”) or any other financial instruments that reference the Covered Issuer or any securities issued by the Covered Issuer. 


You should assume that, as of the publication date of a Nick Winkler Inc. report, Nick Winkler Inc. Related Persons (possibly along with or through its members, partners, affiliates, employees, and/or consultants), 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 stand to realize significant gains in the event that the prices of either equity or debt securities of a Covered Issuer decline or appreciate. Nick Winkler Inc. Related Persons intend to continue transacting in the securities of Covered Issuers for an indefinite period after an initial report on a Covered Person, and such person may be long, short, or neutral at any time hereafter regardless of their initial position and views as stated in the research report published by Nick Winkler Inc. Nick Winkler Inc. may or may not update any report or information on its website to reflect changes in positions that may be held by a Nick Winkler Inc. Related Person.


This is not an offer to sell or a solicitation of an offer to buy any security. Neither Nick Winkler Inc. nor its Related Person are offering, selling or buying any security to or from any person through this website or reports on this website.


The research and reports presented on this website express the opinion of Nick Winkler Inc. only. Reports are based on generally available information, field research, inferences and deductions through due diligence and investigatory processes. To the best of Nick Winkler Inc.’s ability and belief, all information contained herein is accurate and reliable, and has been obtained from public sources that Nick Winkler Inc. believes to be accurate and reliable, and who are not insiders or connected persons of the Covered Issuers or who may otherwise owe a fiduciary duty, duty of confidentiality or any other duty to the Covered Issuer (directly or indirectly). However, such information is presented “as is,” without warranty of any kind, whether express or implied. Nick Winkler Inc. makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use. Further, our reports contain large amounts of analysis and opinion. All expressions of opinion are subject to change without notice, and neither Nick Winkler Inc. nor its Related Persons undertakes to update or supplement any reports or any of the information, analysis and opinion contained in them.


In no event shall Nick Winkler Inc. be liable for any claims, losses, costs or damages of any kind, including direct, indirect, punitive, exemplary, incidental, special or, consequential damages, arising out of or in any way connected with any information on this website. This limitation of liability applies regardless of any negligence or gross negligence of Nick Winkler Inc. or any Nick Winkler Inc. Related Persons. You accept all risks in relying on the information on this website.


You agree that the information in any Nick Winkler Inc. report is copyrighted, and you therefore agree not to distribute this information in any manner without the express prior written consent of Nick Winkler Inc. If you have obtained Nick Winkler Inc. research in any manner other than as provided by Nick Winkler Inc., you may not read such research without agreeing to these Terms of Use. You further agree that any dispute between you and Nick Winkler Inc. and its affiliates arising from or related to this report or viewing the material presented herein shall be governed by the laws of the State of Illinois, without regard to any conflict of law provisions. The failure of Nick Winkler Inc. to exercise or enforce any right or provision of these Terms of Use shall not constitute a waiver of this right or provision. You agree that each Nick Winkler Inc. Related Person is a third-party beneficiary to these Terms of Use. If any provision of these Terms of Use is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision and rule that the other provisions of these Terms of Use remain in full force and effect, in particular as to this governing law and jurisdiction provision. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to Nick Winkler Inc. reports or related material must be filed within one (1) year after the occurrence of the alleged harm that gave rise to such claim or cause of action, or such claim or cause of action be forever barred.

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