TERMS AND CONDITIONS OF USE

Please read the Terms and Conditions of Use carefully so that you fully understand your rights and responsibilities. These Terms and Conditions of Use are the agreement between you and Halvorson Research Associates, LLC (“HRA”) that govern your use of this www.HRAstockpicks.com website (the “Website”). By accessing or using the website, you agree to be bound by These terms and conditions of use including HRA’s Privacy Policy. Please print a copy of this Agreement for your records!

HRA reserves the right to modify or amend these Terms and Conditions of Use at any time. If HRA modifies or amends these Terms and Conditions of Use, changes will be posted on this Website. Changes will be effective immediately upon their posting to this Website. It is solely your responsibility to check these Terms and Conditions of Use for any updates or modifications. By accessing or using this Website after such changes are posted, you agree and consent to all such changes.

IMPORTANT INFORMATION

HRASTOCKPICKS.COM IS ONLY A PUBLISHER OF FINANCIAL INVESTMENT RESEARCH AND OPINIONS

Although HRA refers to this Website as a stock picks Website, HRA is not a financial advisor. This Website only provides a venue for HRA to publish its opinions about stocks. Individualized advice is not provided by HRA.

FINANCIAL SUCCESS IS NOT GUARANTEED

HRA does not guarantee financial success of any investment mentioned on this Website, or that losses will not occur by following HRA ’s opinions .

Subscribers will have access to all completed transactions of the prior calendar year from our Favorite 30 portfolio so that they can see HRA’s full record of gains and losses on those recommendations.

The variability of returns for any security, or any group of securities mentioned on this website, will vary materially from the variability of any market index shown on this website because of differences in the composition and number of securities used by HRA and the index in computing returns.

Returns actually earned by you will vary due to, among other factors, stock selections, amounts invested, market and industry trends, timing of investments and withdrawals and commissions charged for purchases and sales.

If you are not able to sustain a substantial loss of principal amount invested, you should not invest in stocks recommended on this Website.

YOUR HRASTOCKPICKS.COM ACCOUNT

The use of the Website is for personal, non-commercial use only. You may browse this Website without registering. However, in order to receive services from this Website, you must set up an account with HRA. In order to set up an account, you must provide your e-mail address, zipcode, and whether or not you are a financial professional, in addition to creating a password. The other requested information is not mandatory and includes your address and phone number.

All registration information is subject to HRA’s Privacy Policy. You are responsible for all activity that takes place under your account. It is your responsibility to maintain the confidentiality of your password. Your registration allows you to obtain services and subscriber information from this Website for your own personal use only. You will not share your account, password or any services or subscriber information with any other person, including any person in your company or to whom you offer commercial services.

You may not transfer, assign, or sell your account to any third party, including any other person in your company, or allow any third party to use your account or password to access the Website. You must provide accurate and current information to us to open and maintain your account. If you provide any information that is false, misleading, inaccurate, or outdated, HRA may suspend or terminate your account and refuse your access to the Website.

You agree and understand that HRA may and without prior notice to you, immediately terminate your account with HRA and your access to the Website upon the occurrence of any of the following: (1) your breach of these Terms and Conditions of Use or other rules or guidelines set forth by HRA for use of the Website; (2) a request from a court of law, law enforcement or other government agency; (3) unexpected technical or security issues; (4) discontinuance of all or a substantial part of our services; or (5) any other reason in HRA’s sole discretion.

SUBSCRIPTION PAYMENTS

To subscribe to this Website, you must pay the subscription fee online with either a MasterCard or Visa credit card or debit card. Your payment will be processed by HRA’s secure credit and debit card transaction provider, and that provider will request your card and additional information. HRA has no access to the information collected by the secure credit and debit card transaction provider, and only receives a transactional reference number necessary for HRA to apply your credit card or debit card payment to your account. Payment is subject to the approval of the financial institution issuing the credit card or debit card. HRA assumes no responsibility or liability if the financial institution refuses to accept or honor your credit card or debit card for any reason. All payments must be in U.S. dollars. Should you have any questions concerning charges made by HRA to your credit or debit card, please contact us.

INTELLECTUAL PROPERTY RIGHTS

Copyright © 2005 Halvorson Research Associates, LLC. All rights reserved.

All copyrightable text, audio, video, graphics, design, selection, and arrangement of content in any medium on this Website is copyrighted by HRA, unless otherwise noted. The distinctive and original layout and presentation of this Website also constitutes protectable trade dress under applicable federal law. Various names and marks belonging to HRA or its affiliates appear throughout this Website. These include, among others, HRA, HRA STOCKPICKS, HRA STOCKPICKS.COM, FAVORITE 30, FAV 30, TINY PORTFOLIO, TINY 6 and stylized forms of the marks. In addition, this Website may also contain various third-party names and marks that are the property of their respective owners. Any unauthorized use of any marks owned by HRA or any of its affiliates, or any of their copyrighted material or trade dress or any other intellectual property, is strictly prohibited, and will be prosecuted to the fullest extent that the law provides.

USE OF THIS WEBSITE

Permission is granted to download this Website’s content and to print a single hard copy for your personal and noncommercial use only. You may not otherwise use, copy, modify, distribute, republish or transmit any of the content or materials of this Website without the written permission of HRA. You understand and expressly agree that use of this Website is at your own risk, that any material and/or data downloaded or otherwise obtained through the use of the Website or by virtue of interaction with other users is at your own discretion and risk, and that you are solely responsible for any damage to your computer system or loss of data that results from the download of such material and/or data, and for any other form of damage that may be incurred.

You agree that you will not (1) use any robot, spider, scraper or other automated means to access, monitor, or copy this Website or any portion or any data from this Website, without HRA ’s express written consent; (2) bypass any measures we may use to prevent or restrict access to this Website; (3) take any action that imposes an unreasonably or disproportionately large burden on this Website’s infrastructure; and (4) use any automatic or manual process to monitor or copy any portion of the Website without HRA ’s prior written permission.

You agree that you will hold harmless HRA from all claims arising out of or related to your access or use of, or your inability to access or use, this Website or any investment information and advice contained in this Website. In no event will HRA be liable to you or anyone else for any decision made or action taken by you in reliance on any information, advice or other materials provided on, by or for this Website.

UNAUTHORIZED ACCESS

You acknowledge that HRA does not authorize any portion of this Website to be accessed, viewed, downloaded, used by, transmitted, broadcast or otherwise disseminated to any person or entity located in any and all areas where such access, viewing, downloading, use, transmission, broadcast or other dissemination is prohibited by law. You further acknowledge that HRA does not authorize you to cause or enable others to access, view, download, use, transmit, broadcast or otherwise disseminate this Website or any material from this Website.

THIRD-PARTY WEBSITES

HRA is not responsible for and has no control over the contents of any websites linked to, referenced by, or accessible from this Website, or any website that links to our Website, including without limitation any financial investment advisor, online brokers, or any other financial investment websites. Any links or references are provided for your convenience, and are not intended as an endorsement by HRA or a warranty of any type regarding any websites, third parties, or the products, services, information or materials on any websites from any third parties. Your linking to or otherwise visiting any other site is at your own risk, and HRA accepts no liability for the contents, accuracy or currency of any other site. HRA assumes no responsibility, and is not liable, for any transmission or material, or any viral infection of your computer equipment or software, or any other types of damage related to your access, use of or browsing in this or any other site.

NO LIABILITY

In no event shall HRA or any of its affiliates, officers, directors, employees, consultants or agents be liable for any direct, indirect, punitive, special, incidental, or consequential damages or any damages whatsoever, including, without limitation, damages for loss of use, data, information, profits or business interruption, arising out of or in any way related to the use or performance of this Website or any linked Website, to any information or products or anything else obtained through this Website, or otherwise arising out of the use of this Website, or to the inability to use the Website, whether based in tort, contract, negligence, strict liability or otherwise, even if HRA has been advised of the possibility of damages. Your sole and exclusive remedy is to discontinue using this Website.

Some states do not allow the exclusion or limitation of incidental or consequential damages, so some of the above limitations or exclusions may not apply to you.

INDEMNIFICATION

You agree to indemnify, defend and hold harmless HRA , its affiliates, officers, directors, employees, consultants and agents from any and all losses, expenses, third-party claims, liability, damages and costs (including, but not limited to, attorneys’ fees) arising from your use of the Website or the violation of these Terms and Conditions of Use, including without limitation, your infringement, or infringement by any other users of your subscription or account, of any intellectual property or other right or policy of any person or HRA .

NO WARRANTY

This Website is provided by HRA on an “as is” basis. HRA disclaims all warranties with respect to this Website, and to any information or products or services available on this Website, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. HRA also makes no warranty or representation regarding the results that may be obtained from this Website, or regarding the accuracy or reliability of any information obtained from the Website, or that any goods or services will meet any user’s requirements, be uninterrupted, timely, secure or error free. HRA shall also have no responsibility for the timeliness, deletion, misdelivery or failure to store any user communications.

Some states do not allow the exclusion or limitation of implied warranties, so some of the above exclusions may not apply to you.

INTERPRETATION AND DISPUTES:

This Agreement is governed by the laws of the United States and the State of Florida, without regard to any conflict of laws provisions. Venue for any dispute arising under this Agreement shall be proper exclusively in Florida. In the event of any dispute, the prevailing party will be entitled to recovery of its reasonable attorneys’ fees and costs.

If any provision of this Agreement is deemed unenforceable or invalid by a court or arbitrator, including, without limitation, the provision on warranty disclaimers or the provision on the limitation of liability, then the court or arbitrator making such determination shall modify such provision to the minimum extent necessary so as to make it enforceable and valid; but if this cannot be done then the provision shall be severed and the remaining terms will be interpreted to give them maximum enforceability. A waiver or modification of any provision of this Agreement will be effective only if in writing and signed by HRA. Nothing in the Terms and Conditions of Use shall imply or create any type of joint venture, partnership, employment or agency relationship between you and HRA as a result of this agreement.

Any controversy or dispute arising out of or relating to this Agreement must be resolved by binding arbitration before a sole arbitrator. If the parties are unable to agree on an arbitrator within thirty (30) calendar days of a written request for arbitration, an arbitrator will be selected pursuant to the rules and procedures of the American Arbitration Association (AAA). Either party may seek from any court interim or provisional relief that is necessary to protect the rights or property of that party, pending the appointment of the arbitrator or pending the arbitrator’s determination of the merits of the controversy.

ELECTRONIC COMMUNICATIONS

You acknowledge that the Terms and Conditions of Use is a valid and binding agreement. To the fullest extent permitted by law, the Terms and Conditions of Use and any other documentation, agreements, notices or communications between you and HRA regarding this Website or your use of this Website, may be provided to you electronically by posting them on the Website or sending them to the e-mail address you provide to HRA. You agree to receive all such documentation, agreements, notices or communications in electronic form. Please print a copy of all such documentation, agreements, notices or communications for your reference.