Investment Disclosures

Not Investment Advice. The California Technology Stock Letter is published for informational and educational purposes only. Nothing contained in this publication, on this website, or in any communication from the California Technology Stock Letter or Michael Murphy, CFA constitutes investment advice, a solicitation to buy or sell any security, or a recommendation to take any specific investment action.

No Advisor Registration. The California Technology Stock Letter and Michael Murphy, CFA are not registered as investment advisers with the Securities and Exchange Commission (SEC) or with any state securities regulatory authority. The information provided is general in nature and does not take into account your individual financial situation, investment objectives, or risk tolerance.

Positions Held. Michael Murphy, CFA and entities affiliated with the California Technology Stock Letter may hold long or short positions in securities discussed in the newsletter. Such positions may be established before, during, or after publication of research. Subscribers should assume that positions may exist in any security discussed.

No Guarantee of Results. Past investment performance discussed or referenced in the California Technology Stock Letter does not guarantee future results. All investments involve risk, including the possible loss of the entire principal invested. Technology stocks, speculative investments, and small-capitalization stocks involve substantially higher risks than broadly diversified investment strategies.

Consult a Professional. You should always consult with a qualified investment professional, financial adviser, tax adviser, or attorney before making any investment decision. The California Technology Stock Letter is not a substitute for professional financial advice.

Forward-Looking Statements. Research published by the California Technology Stock Letter may contain forward-looking statements, projections, and price targets. These are based on assumptions and judgments that may prove incorrect. Actual results may differ materially from any projections or expectations expressed.

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