Disclosure and RegAC on page 7-8 says

- Roth has received compensation for investment banking services, etc...; and

- Top of page 7, Reg Act Ref...Analysts receive no compensation,...and report only reflect personal view...etc.

In principle (and by regulation as well?) there would be a "China wall" between the analysis and the investment sides. This is intended to avoid abuse by the investment houses, e.g. "pump and dump" of a stock.

So, from the above it would be difficult to arrive at a conclusion, or some impression, that the report was paid for by Zen with a possible connotation that Zen has some control over the outcome of the report.

In my opinion, Roth reports look quite balanced an conservative, taking into account my own DD. Anyone has any other opinions?

Do your own DD and arrive at your own conclusion, of course.

goldhunter