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Under no circumstances should any material in this site be construed as an offering of securities or of investment advice. The reader should consult with his/her professional investment advisor regarding investments in securities referred to herein.
Terms and Conditions Specific to Smart Energy Stocks
Smart Energy Stocks is owned and operated by Keith Schaefer of Vancouver, British Columbia.
It is our opinion that junior public stock companies should be evaluated as speculative investments. The companies on which we focus are typically smaller, early stage. Such companies by nature carry a high level of risk. Failure by any of these companies to maintain positive cash flow will result in substantial and rapid price declines. Anyone who cannot accept this risk of total and sudden loss of their capital should not own such securities. Speculators should also be aware that these stocks are subject to large swings in price and liquidity that are not always related to the fundamentals of the underlying business.
The service we endeavor to provide is to analyze and clarify the nature and potential of certain North American companies, and identify those situations where the market either misunderstands the nature of the company or assigns unduly optimistic or pessimistic success odds to the company.
Keith Schaefer is not a registered investment dealer or advisor. No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer to buy or sell the securities mentioned, or the giving of investment advice.
Smart Energy Stocks is a commercial enterprise whose revenue is solely derived from subscription fees. It has been designed to serve as a research portal for subscribers, who must rely on themselves or their investment advisors in determining the suitability of any investment decisions they wish to make.
A primary objective of Smart Energy Stocks is to provide independent research concerning certain publicly traded companies, thereby giving investors additional information with which they can make their own investment decisions. Smart Energy Stocks is not designed to pick the highs and lows of each company’s stock or the industry as a whole. Investment outcomes are often subject to considerable risks. There is no guarantee that any general information or recommendations offered on our website will achieve your particular investment objectives, or that results will be favorable. Information provided herein has no regard to the specific investment objectives, financial situation and particular needs of any specific subscriber, and investments discussed may not be suitable for all investors. Illustrations of past performance of particular investment strategies should not be taken as a reliable indicator of the future, but only as a possibility that may be to some extent supported by evidence.
Unless otherwise stated, Keith Schaefer does not receive fees directly or indirectly in connection with any comments or opinions expressed in his reports. He bases his investment decisions based on his research, and will state in each instance the shares held by him in each company. Potential conflicts of interest are handled as follows:
Any company mentioned or featured in Smart Energy Stocks is subject to an ownership disclosure by Keith Schaefer. Generally, Keith Schaefer will hold an investment in each company reviewed which he considers worthy of investment. Readers can assume that Keith Schaefer does not own shares in any company mentioned in the article if no ownership statement is made.
Keith Schaefer may express opinions about whether any particular company represents good, fair or poor speculative value. Such observations, which are generally linked to uncertain future outcomes and involve Keith Schaefer’s interpretation of their probabilities, are valid only at the time made. Subscribers are encouraged to use their own research to form their own assessments of speculative value.
The core principles followed by Keith Schaefer are no front-running of recommendations and no trading against one’s own recommendations. Simultaneously owning and recommending the same stock carries an implicit conflict of interest. In the majority of cases Keith Schaefer will trade a stock prior to his having published his opinion.
Once a company has been reviewed, Keith Schaefer may buy or sell the stock in accordance with personal requirements such as the need to rebalance his portfolio, raise capital for alternative investments or uses, or address his own risk tolerances. Keith Schaefer’s investment in each company will vary depending on a number of reasons, including his personal financial situation.
Keith Schaefer may or may not make opinions on the timing of selling shares of companies in which he previously invested. While he prefers to match his personal selling with a recommended selling strategy, there will be times when personal needs unrelated to the outlook for a company require selling a position at a time when it would be unreasonable to recommend such action to a larger audience. In such cases Keith Schaefer may sell as much as his entire position once a partial sell recommendation has been issued.
Keith Schaefer’s opinions regarding the buying and selling of stock, and his reports of having purchased or sold securities, are intended only as a guide and not to be followed by anyone. The nature of speculative securities is such that circumstances affecting a company’s outlook change frequently and often abruptly; and the realizing of profits or losses from selling shares is solely at the risk and timing of each individual.
Fees for Recommendations
Unless specifically stated in a report, newsletter or opinion Keith Schaefer does not accept payment from companies or entities in which he invests or divests, or for researching a company or entity, either directly or indirectly through mechanisms such as “consulting fees”. Keith Schaefer is not involved in any ongoing formal advisory relationship with private or public partners. If Keith Schaefer is retained by a company or entity to prepare a report, all compensation received by him will be fully disclosed.
Keith Schaefer does give companies permission to reprint previously published material. He does not charge a “reprint fee” to “recover costs”. All reprint or online posting permissions are subject to Keith Schaefer’s right to withdraw his permission at any time.
No Brokerage Firm Relationships
No compensation arrangements exist or will be accepted for any referrals made by Smart Energy Stocks of brokerage firms. The target audience of Keith Schaefer’s reports and bulletins are sophisticated speculators capable of making their own investment decisions. However, we do recommend that all speculators contemplating any investment should consult a registered financial advisor with regard to a strategy suitable for that individual’s goals, needs, and circumstances. We do not make such referrals.
Keith Schaefer does not seek or receive finder’s fees related to any financings involving investors. Keith Schaefer may accept finder’s fees for business-to-business transactions such as property acquisitions, farmout deals, restructuring proposals and control block sales.
Keith Schaefer may speak at various conferences, sometimes for a fee paid by the conference organizer, but never by a third party. The specific content of his presentations is at his sole discretion. He does not get a commission from the conference organizers related to any exhibitors. In his talks he may give preference to exhibitor companies which happen to illustrate the themes of his talks so that delegates can follow up with their own research at the conference.
Keith Schaefer may participate in property field trips that may be fully paid for by the sponsoring company, but only with the understanding that the nature and content of follow-up coverage is entirely at his discretion.
Terms of Service
Your use of Smart Energy Stocks web site and services (the “Services”) is subject to the terms of a legal agreement, the terms of which are set out below. It is important that you take the time to read them carefully. Collectively, the terms and conditions of this legal agreement are set out below, and referred to as the “Terms”.
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Links to other Internet sites (hypertext links) are included as a convenience to you. When you access a linked site, you are accessing an independent site over which we have no control. The presence of hypertext links on our website does not mean that we endorse or accept any responsibility for the content or presentation of linked sites.
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your use of the Services will meet your requirements,
your use of the Services will be uninterrupted, timely, secure or free from error, and
any information obtained by you as a result of your use of the Services will be accurate or reliable.
The information in this site is time sensitive and is accordingly subject to change. The information is based on sources believed to be reliable; however, no assurances can be provided that the information is accurate and complete and therefore it is provided without warranties of any kind. Accordingly, any use of this information is at your own risk and without liability to us or any company referenced by us including liability with respect to losses or damages of any kind.
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Changes to the Terms
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General legal terms
If any court of law, having the jurisdiction to decide on this matter, rules that any provision of these Terms is invalid, then that provision will be removed from the Terms without affecting the rest of the Terms. The remaining provisions of the Terms will continue to be valid and enforceable.
The owners of Smart Energy Stocks and this website are based in Vancouver, British Columbia, Canada. The Terms, and your relationship with us under the Terms, shall be governed by the laws of the Province of British Columbia without regard to its conflict of laws provisions. You and we agree to submit to the exclusive jurisdiction of the courts located within the Vancouver registry to resolve any legal matter arising from the Terms. Your use of this site does not subject us to the jurisdiction of courts in, or the laws of, any other jurisdiction. Notwithstanding this, you agree that we shall still be allowed to apply for injunctive remedies (or an equivalent type of urgent legal relief) in any jurisdiction.
United States Matters
Securities traded or quoted in the United States and United States Persons
Our newsletter follows companies and other entities engaged in the business of exploration, development and production globally. Some of these companies and entities may be incorporated in, carry on business in, or otherwise have a material presence in the United States; and / or have securities which trade in the United States on a stock exchange registered under the Securities Exchange Act of 1934 (the “Exchange Act”), including AMEX, NASDAQ and the NYSE, (a “U.S. Traded Security”) or which may be quoted on a quotation service such as the Over-the-Counter Bulletin Board operated by the Financial Services Regulatory Authority (FINRA) or the bulletin boards operated by OTC Markets such as the OTCQX and OTCQB (a “U.S. Quoted Security”).
United States Persons, as that term is defined under Regulation S of the Securities Act of 1933 (the “Securities Act”), agree that they are not relying on opinions for information found in a newsletter to conduct trades or otherwise make an investment decision in securities, including in U.S. Traded Securities and U.S. Quoted Securities, and acknowledge that trades and investment decisions, if any, in securities referenced in a newsletter should only be made in consultation with a broker-dealer or investment adviser licensed in their jurisdiction.
United States Securities Regulations
The information in this newsletter does not constitute an offer to sell or a solicitation of an offer to buy any securities of a corporation or entity, including U.S. Traded Securities or U.S. Quoted Securities, in the United States or to U.S. Persons. Securities may not be offered or sold in the United States except in compliance with the registration requirements of the Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom. Any public offering of securities in the United States may only be made by means of a prospectus containing detailed information about the corporation or entity and its management as well as financial statements. No securities regulatory authority in the United States has either approved or disapproved of the contents of any newsletter.
Keith Schaefer is not registered with the United States Securities and Exchange Commission (the “SEC”): as a “broker-dealer” under the Exchange Act, as an “investment adviser” under the Investment Advisers Act of 1940, or in any other capacity. He is also not registered with any state securities commission or authority as a broker-dealer or investment advisor or in any other capacity.
Disclaimer for Reports:
United States Securities Regulations
The information in this newsletter does not constitute an offer to sell or a solicitation of an offer to buy any securities of the corporations or entities referred to herein, in the United States or to U.S. Persons. Securities may not be offered or sold in the United States except in compliance with the registration requirements of the Securities Act of 1933 (the “Securities Act”) and applicable U.S. state securities laws or pursuant to an exemption therefrom. Any public offering of securities in the United States may only be made by means of a prospectus containing detailed information about the corporation or entity and its management as well as financial statements. No securities regulatory authority in the United States has either approved or disapproved of the contents of any newsletter.
U.S. Persons, as that term is defined under Regulation S of the Securities Act, should not rely on opinions or information stated herein to conduct trades of securities or otherwise make an investment decision, and acknowledge that trades and investment decisions, if any, in securities referenced herein should only be made in consultation with a broker-dealer or investment adviser licensed in their jurisdiction.
Keith Schaefer is not registered with the United States Securities and Exchange Commission (the “SEC”): as a “broker-dealer” under Securities Exchange Act of 1934, as an “investment adviser” under the Investment Advisers Act of 1940, or in any other capacity. He is also not registered with any state securities commission or authority as a broker-dealer or investment advisor or in any other capacity.
Interest and Compensation
[state securities owned or traded; and compensation received for writing the article]