Achieving the level of broker-dealer-ready by any business means reaching the highest deal quality level for investment in private capital markets in America.

"Our proprietary BDR Rating™ system, exclusively powered on the EPEC Platform™, is the only commercially available market standard in the world for business ratings against the investment standard of a company being Broker-Dealer ready."

Meeting the rigorous financial, legal, compliance, and business standards required by licensed broker-dealers to distribute a securities offering through federally licensed investment banks in the United States is necessary for the substantial capitalization of any business in the world of private or public capital markets.

The higher quality standards that a business meets, the greater the value opportunity for unlimited capitalization.

Since 1998, Commonwealth Capital has delivered a hands-on, proprietary corporate finance program to engineer companies to become broker-dealer ready.

Today, our program is accessible to nearly any company in the world seeking U.S. private market capital investments by acquiring a membership in our Corporate Engineering Conservatory™ hosted on our new EPEC Platform™.

The EPEC Platform™ is an end-to-end cloud-based ecosystem of application services that companies use while doing our program to achieve the standards necessary for substantial capitalization, before pursuing accredited investors seeking qualified deals through our network.

While our Corporate Engineering Conservatory™ is available to companies at any level, anywhere in the world, every company must first undergo a Broker-Dealer Readiness Rating™ (BDR Rating™) diagnostic review to determine their readiness level for private or public capital market investment, regardless of their business maturity or amount of capital they seek.

The BDR Rating™ of a company is a private capital market investment rating system. Just as Fitch Ratings™ publishes forward-looking credit ratings on an entity's relative ability or obligation to meet financial commitments, the BDR Rating™ of a business is a current-look diagnostic analysis on a company's state as a quality deal for private market capital relative to being broker-dealer ready.

BDR Rating™ alpha values are determined using proprietary data science and intelligence that includes rich and ongoing analysis of broker-dealer requirements, market information, up-to-date federal securities laws, and all the information provided in our diagnostic survey by the company.

BDR Rating Reports™ are provided as an outcome analysis and an actionable program that a company can use to increase its BDR Rating™ while moving through our Corporate Engineering Conservatory™.

Tier 1, Tier 2:

Investment Banks/Broker-Dealers

Venture Capital Firms

Private Equity Firms

AAA

Highest Quality Deal Investment

‘AAA’ designates a company as fully broker-dealer-ready for Tier 1 & 2 investment banks, venture capital, and private equity firms. This is the highest quality deal possible for the U. S. private or public capital markets, meeting all financial, legal, business, and compliance requirements with securities designed for the highest return potential relative to the company’s risk profile.

Tier 2

Investment Banks/Broker-Dealers

Venture Capital Firms

Private Equity

Family Offices

AA

Very High-Quality Deal Investment

‘AA’ designates a company as a very high-quality deal. This is the second highest quality deal possible for the U. S. private or public capital markets, meeting all the financial, legal, business, and compliance requirements with securities designed for the highest return potential relative to the company’s risk profile.

Tier 2

Investment Banks/Broker-Dealers

Venture Capital Firms

Private Equity

Family Offices

High-Quality Deal Investment

A

‘A’ designates a company as a high-quality deal. This is the third highest quality deal possible for the U. S. private or public capital markets, meeting most of the financial, legal, business, and compliance requirements with securities designed for the highest return potential relative to the company’s risk profile.

Tier 2, Tier 3

Investment Banks/Broker-Dealers

Venture Capital Firms

Private Equity

Family Offices

Angel Investors

Very Good Quality Deal Investment

BBB

‘BBB’ designates a company as a very good quality deal. This is the fourth highest quality deal possible for the U. S. private or public capital markets, meeting most of the financial, legal, business, and compliance requirements with securities designed for the highest return potential relative to the company’s risk profile.

Tier 3

Venture Capital Firms

Private Equity

Family Offices

Angel Investors

Friends & Family Funds

Good Quality Deal Investment

BB

‘BB’ designates a company as a good quality deal. This is the fifth highest quality deal possible for the U. S. private capital markets, meeting some of the financial, legal, business, and compliance requirements with securities designed for the highest return potential relative to the company’s risk profile.

Family Offices

Angel Investors

Friends & Family Funds

Fair Quality Deal Investment

B

‘B’ designates a company as a fair quality deal. This is the sixth highest quality deal possible for the U. S. private capital markets, meeting some of the financial, legal, business, and compliance requirements with securities designed for the highest return potential relative to the company’s risk profile.

Angel Investors

Friends & Family Funds

Speculative Quality Deal Investment

CCC

‘CCC’ designates a company as a speculative quality deal. This is the seventh highest quality deal possible for the U. S. private capital markets, needing significant improvements regarding the financial, legal, business, and compliance requirements with securities designed for the highest return potential relative to the company’s risk profile.

|Friends & Family Funds

High Risk Deal Investment

CC

‘CC’ designates a company as a low-quality deal. This is the eighth highest quality deal possible for the U. S. private capital markets, needing substantial improvements regarding the financial, legal, business, and compliance requirements with securities designed for the highest return potential relative to the company’s risk profile.

|Friends & Family Funds

Poor Quality Deal Investment

C

‘C’ designates a company as a poor-quality deal. This is the ninth highest quality deal possible for the U. S. private capital markets, needing vast improvements regarding the financial, legal, business, and compliance requirements with securities designed for the highest return potential relative to the company’s risk profile.

No Rating

NR

The company cannot be rated for Broker-dealer readiness due to one or more critical elements that are missing and need to be included, one or more answers have triggered a red flag, or there are inconsistencies in the metric weightings that may indicate issues that cannot be resolved without a more thorough, physical due diligence review.

Diagnostics Analysis

Survey Application

Any company may use our system to determine its BDR Rating™ and state of true readiness for private capital market investment at any time and at no cost.

However, entering the system and providing reasonably accurate company information may require some time, depending on the immediate availability of your company information.

Determination of your BDR Rating™ may vary according to the accuracy of the information provided. The greater the accuracy of your business information, the more focused your rating outcome will be.

Your BDR Rating Report™ will not necessarily include the recommended program steps to be addressed to increase your company’s Broker-dealer readiness, as this information is only provided to a company that has either become an Executive Member in our Corporate Engineering Conservatory™ or has already engaged our firm for Corporate Finance Advisory Services.

INSTRUCTION NOTICES

PLEASE DO NOT CLOSE OR EXIT THIS FORM UNTIL YOU HAVE COMPLETED IT. Your information is not saved until you click the button on the last page.

When answering financial questions about your business, exact dollar amounts are not required. However, please approximate with as much reasonable accuracy as possible to ensure a correct rating outcome for your company.

Your BDR Rating™ results will be emailed to you within 3-7 business days after completion of the below form.

BDR Rating™ Diagnostics Survey Application
for Operating Companies ONLY

BDR Rating™ Diagnostics Survey Application
for REITS–FUNDS–ETFs ONLY

DISCLAIMER & DISCLOSURES

All Commonwealth Capital (“Commonwealth”) Broker-Dealer Readiness Ratings™, aka BDR Ratings™, are subject to certain limitations and disclaimers. Please read these limitations and disclaimers by following this link: https://www.commonwealthcapital.com/courses-and-conservatory-user-terms. In addition, the following https://www.commonwealthcapital.com/broker-dealer-readiness-rating details the BDR Rating™ definitions for each rating scale and rating category, including definitions relating to private capital market investment readiness of any entity. Published ratings, criteria, and methodologies are available from this site at all times. Commonwealth may have provided another permissible or ancillary service to the rated entity or its related third parties, with details of permissible or ancillary service(s) may be found at https://www.commonwealthcapital.com/.

In issuing and maintaining its ratings and making other reports, Commonwealth relies on factual information it receives from issuers, underwriters, and other sources Commonwealth believes to be credible. Commonwealth conducts a reasonable investigation of the factual information relied upon by it in accordance with its rating methodology and obtains reasonable verification of that information from independent sources to the extent such sources are available in order to rate a given company. The manner of Commonwealth factual investigation and the scope of the third-party verification it obtains will vary depending on the nature of the rating issues to a company, the requirements and practices in the jurisdiction in which the company is located, the availability and nature of relevant public information, access to information related to rating a given company, the availability of pre-existing third-party verifications and/or reports, agreed-upon procedures letters, appraisals, actuarial reports, audits, engineering reports, legal opinions and other reports provided by given companies and/or third parties, the availability of independent and competent third- party verification sources with respect to the particular company, and a variety of other factors. Users of Commonwealth BDR Ratings™ and BDR Rating Reports™ should understand that neither an enhanced factual investigation nor any third-party verification can ensure that all of the information Commonwealth relies on in connection with a rating or a report will be accurate and complete. Ultimately, the given company is responsible for the accuracy of its information to Commonwealth and the market in offering documents and other reports. In issuing its ratings and its reports, Commonwealth must rely on the work of experts, including independent auditors with respect to financial statements and attorneys with respect to legal and tax matters. Further, ratings and forecasts of financial and other information are inherently forward-looking and embody assumptions and predictions about future events that, by their nature, cannot be verified as facts. As a result, despite any verification of current facts, ratings and forecasts can be affected by future events or conditions that were not anticipated at the time a rating or forecast was issued or affirmed.

The information in this report is provided "as is" without any representation or warranty of any kind, and Commonwealth does not represent or warrant that the report or any of its contents will meet any of the requirements of a recipient of the report. A BDR Rating™ is an opinion represented as a current-look diagnostic analysis on a company's state as a quality deal for private market capital relative to being broker-dealer ready. This opinion and reports made by Commonwealth are based on established criteria and methodologies that Commonwealth is continuously evaluating and updating. Therefore, ratings and reports are the collective work product of Commonwealth and no individual, or group of individuals, is solely responsible for a rating or a report. The rating does not address the risk of loss due to risks other than investment risk, unless such risk is specifically mentioned. Commonwealth is not engaged in the offer or sale of any security. All Commonwealth BDR Ratings Reports™ have shared authorship. Individuals that may be identified in a BDR Ratings Report™ may be involved in, but are not solely responsible for, the opinions stated therein. Any individuals named are for contact purposes only. A report providing a BDR Rating is neither a prospectus nor a substitute for the information assembled, verified, and presented to investors by any issuer and its agents in connection with the sale of the securities. Ratings may be changed or withdrawn at any time for any reason at the sole discretion of Commonwealth. Commonwealth does not provide investment advice of any sort. Ratings are not a recommendation to buy, sell, or hold any securities by any issuers. Ratings do not comment on the adequacy of the price of any security, the suitability of any security for a particular investor, or the tax-exempt nature or taxability of payments made with respect to any security. Commonwealth may receive fees from issuers, insurers, guarantors, other obligors, and underwriters for issuing its ratings. The assignment, publication, or dissemination of a rating by Commonwealth shall not constitute a consent by Commonwealth to use its name as an expert in connection with any registration statement filed under the United States securities laws, the Financial Services and Markets Act of 2000 of the United Kingdom, or the securities laws of any particular jurisdiction.

Commonwealth Capital, LLC and its affiliates do not provide tax, legal, accounting, or investment advice. Commonwealth Capital, LLC is not a licensed Broker-Dealer nor a FINRA-licensed Registered Investment Advisor. This report has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, accounting, or investment advice. You should consult your own tax, legal, accounting, and registered investment advisors before engaging in any transaction. Commonwealth Capital, LLC is not a credit rating agency and is not registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (the "NRSRO").