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NEWS ARTICLE

Future of Film Disclaimer

Analyst Certification

 

I, Richard Greenfield, hereby certify that the views about the companies and securities discussed in this report are accurately expressed and that I have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report.

 

I, Brandon Ross, hereby certify that the views about the companies and securities discussed in this report are accurately expressed and that I have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report.

 

Regulatory Disclosures

 

Analyst Stock Ratings Definitions

 

BTIG LLC’s (”BTIG”) ratings, effective DATE, are defined as follows:

 

BUY - A stock that is expected at initiation to produce a positive total return of 15% or greater over the 12 months following the initial recommendation. The BUY rating may be maintained following initiation as long as it is deemed appropriate, notwithstanding price fluctuations that would cause the target to fall outside of the 15% return.

 

SELL - A stock that is expected at initiation to produce a negative total return of 15% or greater over the next 12 months following the initial recommendation. The SELL rating may be maintained following initiation as long as it is deemed appropriate, notwithstanding price fluctuations that would cause the target to fall outside of the 15% return.

 

NEUTRAL - A stock that is not expected to appreciate or depreciate meaningfully over the next 12 months.

 

NOT RATED - A stock that is not rated but that is covered by BTIG.

 

Distribution of Ratings and Investment Banking Clients

 

BTIG must disclose in each research report the percentage of all securities rated by the member to which the member would assign a “buy”, “neutral” or “sell” rating. The said ratings are updated on a quarterly basis. BTIG must also disclose the percentage of subject companies within each of these three categories for whom the member has provided investment banking services within the previous twelve months. Below is the distribution of BTIG’s research recommendations.
BUY: 59%  NEUTRAL: 29%  SELL: 12%

 

Stocks in coverage as of the end of the most recent calendar quarter (March 31, 2011): 41

 

The percentage of Investment banking services is calculated as of March 31, 2011.  Distribution of investment Banking Relationships: BUY: 0% NEUTRAL: 0% SELL: 0% after the ratings distribution.

 

For purposes of FINRA ratings distribution rules, BTIG’s stock ratings of Buy, Neutral and Sell fall into Buy, Hold and Sell categories, respectively.


Read more: http://www.btigresearch.com/media-stock-disclosures-richard-greenfieldbrandon-ross/#ixzz1rx4I5M5U

 

 

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