David Lebowitz

Citigroup Global Markets, Inc. (Broker) (CGMI-Broker) is the broker/dealer division of Citigroup Global Markets, Inc., an investment bank headquartered in New York City with additional offices across the US. The firm was founded in 2004 and is a subsidiary of Citigroup Financial Products, Inc., ultimately held by Citigroup, Inc. (NYSE: C). CGMI-Broker covers all market capitalizations of the major global indices and provides macro and quantitative analysis of global markets and sector trends. Their core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.

Morgan Stanley & Co. LLC is a registered broker-dealer subsidiary of Morgan Stanley Domestic Holdings, Inc., ultimately owned by Morgan Stanley (NYSE: MS) in the US. Headquartered in New York City, the firm was founded in 1987 and provides debt and equity services including underwriting, M&A advice, securities dealing and brokerage and trade execution. Their client base ranges from large global institutional investors to hedge funds at the cutting edge of innovation in the industry.

Founded in 1999 by the late Thomas Watson, Janney Montgomery Scott LLC (JMS) is a full-service financial services firm and registered broker/dealer headquartered in Philadelphia, Pennsylvania. The firm is a subsidiary of Independence Square Properties LLC, itself a subsidiary of Penn Mutual Insurance Co. Their ultimate parent is Harleysville Mutual Insurance Co. JMS is a member of the NYSE, the SIPC and FINRA. The firm provides comprehensive financial advice and services to individual, corporate and institutional investors. Their primary coverage verticals include the consumer, technology, financials and infrastructure sectors.

Piper Sandler & Co. (Broker) (PSC-Broker) is the full-service brokerage division of Piper Sandler & Co., a financial service firm headquartered in Minneapolis, Minnesota. They are a subsidiary of Piper Sandler Companies (NYSE: PIPR). The firm was founded in 1969 and previously known as Piper Jaffray & Co. They became Piper Sandler & Co. when Piper Jaffray Companies and Sandler O’Neill & Partners, L.P. merged to become Piper Sandler Companies in 2020. PSC-Broker provides brokerage and investment banking services to financial institutions, corporations and other financial investors. Their core focus sectors are Agriculture, renewables & cannabis, Business services, Chemicals & Materials, Consumer, Diversified industrials & services, Energy, Financial services, financial sponsors, Healthcare, and Technology.

SMH Capital, Inc. (SMH) is the primary broker subsidiary of Sander Morris Harris Group, Inc. (Nasdaq: SMHG). The firm is headquartered in Houston, Texas with additional offices in Los Angeles and San Francisco. SMH provides a full range of asset and wealth management and investment banking services. The firm also offers institutional equity sales, trading, and research, as well as prime brokerage services for hedge funds and fixed-income securities sales and trading. SMH's research effort is attuned to the Southwest, yet takes a broad, global perspective. The analysts cover companies in six broad sectors, including business services, energy, entertainment and media, financial services, specialty retail-softlines, and technology. They look at industries in a bottom-up way, and get to know company managements in depth, to understand their growth philosophy and their views of how their company fits within their group. SMH's growth strategy is to expand asset management and fiduciary activities and related business by increasing assets under management through acquisitions, internal growth and better coordination between their subsidiaries.

Founded in 1998, Thomas Weisel Partners (TWP) is a broker/dealer headquartered in San Francisco with offices in New York City, Boston, Denver, Colorado and Palo Alto, California. The firm is a subsidiary of Thomas Weisel Partners Group, Inc. (Nasdaq: TWPG), a San Francisco-based investment banking firm. Their ultimate parent is Stifel Financial Corp. (NYSE: SF). TWP's investment banking, brokerage and equity research divisions serve emerging growth companies and institutional investors around the world. They are a member of the NYSE, the SIPC and FINRA. TWP specializes in the growth sectors of the economy with a particular focus on the consumer, energy, healthcare, Internet, media/telecommunications, metals/mining and technology sectors. Within the consumer sector, the firm focuses on: financial products, gaming/lodging, interactive market services, lifestyles/sports retailers, restaurants and hardlines and softlines retailing. TWP's global energy research is provided by analysts in three countries and covers the following trends: (1) fast-growing oil and natural gas producers in North America and worldwide (2) domestic and international energy service companies and (3) alternative energy technology and resource developers. Within the healthcare sector, TWP focuses on: biotechnology, diagnostics, healthcare information technology, pharmaceutical services, life science technology, medical devices and specialty pharmaceuticals. The firm's interest in the Internet, media and telecommunications sector include: Internet services, media, broadcasting and telecommunications services. Their focus within the metals and mining sector include: base metals, gold, precious metals and uranium. TWP's technology research focuses on: (1) applied technologies (2) communications components (3) core and wireless communications equipment (4) IP networking communications equipment (5) electronic supply chain (6) enterprise hardware (7) information and financial technology services (8) semiconductor capital equipment (9) broadline and specialty semiconductors (10) applications and communications software and (11) infrastructure software. TWP also provides value-added equities analysis across a variety of sectors including: industrials, financials, consumer, technology and healthcare.