All Commonwealth Capital, LLC (“Commonwealth”) Broker-Dealer Readiness Rating™, aka BDR Rating™, Broker Dealer Readiness Report™, and related reports are subject to certain limitations and disclaimers. Please read these limitations and disclaimers within our Terms and Conditions.

Legal Disclaimer

This report includes critical legal disclosures essential to Commonwealth's operations. This disclaimer is crafted to withstand scrutiny at the highest legal levels and provide comprehensive protection against liability.

BDR Rating™ Definitions and Methodology

The detailed BDR Rating™ definitions for each rating scale and category, including those related to broker-dealer engagement readiness, are available at Commonwealth Broker-Dealer Readiness Rating System™. Additional information regarding permissible or ancillary services provided to rated entities or related third parties can be found at Blue Chip Program™.

Information Reliability and Verification

Commonwealth relies on factual information received from issuers, underwriters, and other credible sources. A reasonable investigation of this information, in accordance with our rating methodology, is conducted, and reasonable verification from independent sources is obtained to the extent available. This investigation and verification scope varies based on jurisdictional practices, public information availability, and access to company-related information. Users of Commonwealth BDR Ratings™ and BDR Rating Reports™ should understand that even enhanced investigations and third-party verifications cannot guarantee the complete accuracy and comprehensiveness of the information relied upon. Ultimately, the accuracy of information remains the responsibility of the company.

Expert Opinions and Forward-Looking Statements

Commonwealth's ratings and reports depend on expert opinions, including those from independent auditors and legal professionals. Ratings and forecasts inherently involve forward-looking statements based on assumptions about future events, which cannot be verified as facts. Consequently, despite current fact verification, future events or conditions may impact ratings and forecasts.

Disclaimer of Warranties and Liability

The information provided in this report is "as is" without any warranty of any kind. Commonwealth does not warrant that the report or its contents will meet the requirements of any recipient. A BDR Rating™ is an opinion-based diagnostic analysis reflecting a company's broker-dealer readiness. This opinion is derived from established criteria and continually evaluated and updated methodologies. Therefore, ratings and reports are collective work products, not attributable to individuals or groups.

Limitations of Ratings and Reports

Ratings do not address loss risks other than investment risk unless explicitly stated. Commonwealth does not engage in the offer or sale of securities, and ratings are not recommendations to buy, sell, or hold securities. Ratings do not comment on security price adequacy, investor suitability, or tax implications. The assignment, publication, or dissemination of a rating by Commonwealth does not constitute consent to use its name as an expert in any registration statement.

Advisory and Regulatory Compliance

Commonwealth Capital, LLC and its affiliates do not provide tax, legal, accounting, or investment advice. Commonwealth Capital, LLC is not a licensed Broker-Dealer or a FINRA-licensed Registered Investment Advisor. This report is for informational purposes only and should not be relied upon for tax, legal, accounting, or investment advice. Consult your own 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 (NRSRO).