The background information, market assessments and securities analyses that Carsten Schmider publishes on his websites and in his newsletters do not constitute an offer to sell or a solicitation to buy or sell securities. The information is based on sources that the publisher considers to be trustworthy. Nevertheless, liability for financial losses that may result from the use of the information or share reviews for one’s own investment decisions is categorically excluded. We would like to point out that equity investments are without exception associated with risk. In fact, any transaction involving warrants, leverage certificates or other financial products involves extremely high risks. Political, economic or other changes can lead to considerable price losses and, in the worst case, to the total loss of the capital invested. In the case of derivative products, the probability of extreme losses is at least as high as with small-cap shares, whereby large domestic and foreign shares can also suffer severe price losses or even a total loss. All liability claims, including for foreign share recommendations, derivatives and fund recommendations, are therefore excluded without exception. You should seek further advice before making any investment decision (e.g. from your bank or a trusted advisor). Although the valuations and statements contained in Carsten Schmider’s analyses and market assessments have been prepared with due care, we accept no responsibility or liability for errors, omissions or incorrect information. This also applies to all statements, figures and assessments made by our interviewees in the interviews.

All statements made in these reports, other than statements of historical fact, should be regarded as forward-looking statements that may not prove to be accurate due to substantial risks. The author’s statements are subject to uncertainties that should not be underestimated. There is no certainty or guarantee that the statements made will actually materialize. Therefore, readers should not rely on the statements made by Carsten Schmider Media Relations Publishing and buy or sell securities solely on the basis of reading the report. Carsten Schmider is not a registered or recognized financial advisor. All texts, in particular market assessments, stock assessments and chart analyses, reflect the personal opinion of the editor, which is covered by Article 5 of the German Basic Law, and may in no way be interpreted as investment advice. They are therefore purely individual opinions without any claim to a balanced understanding of the subject matter. Before investing in securities or other investment opportunities, everyone should consult a professional investment advisor and ask whether such an investment makes sense or whether the risks are too great. Carsten Schmider accepts no responsibility for the accuracy and reliability of the information and content contained in the reports or on our website, distributed by Carsten Schmider or accessible via hyperlinks from Carsten Schmider Media Relations Publishing (hereinafter referred to as the Service). The reader hereby assures that he/she uses all materials and content at his/her own risk and that Carsten Schmider accepts no liability. Carsten Schmider reserves the right to change, improve, expand or remove the content and materials provided on the Carsten Schmider Media Relations Publishing website without prior notice. Carsten Schmider expressly excludes any warranty for the service and materials.

Service and materials and related documentation are provided to you “as is” without warranty of any kind, either express or implied. Including, but not limited to, implied warranties of merchantability, fitness for a particular purpose or non-infringement. The entire risk arising out of the use or performance of the Service and Materials remains with you, the reader. To the maximum extent permitted by applicable law, Carsten Schmider shall not be liable for any special, incidental, indirect or consequential damages (including, but not limited to, lost profits, business interruption, loss of business information or any other pecuniary loss) arising out of the use of or inability to use the Service and Materials. The service provided by Carsten Schmider may under no circumstances be construed as personal or general advice. Users who make investment decisions or carry out transactions on the basis of the information displayed or ordered from Carsten Schmider Media Relations Publishing do so entirely at their own risk. The information sent by Carsten Schmider or any other related information therefore does not give rise to any liability whatsoever. We expressly point out that the published articles are not financial analyses in accordance with German capital market law, but rather journalistic and advertising articles.

Disclosure of interests:
The recommendations, interviews and company presentations published on the websites of Carsten Schmider Media Relations Publishing fulfill without exception advertising purposes and are paid for by the respective companies or so-called third parties. For this reason, however, the independence of the analyses must be called into question. By definition, these are only

This also applies to the stock recommendations currently published on the website. The preparation and dissemination of the reports was commissioned and remunerated by the respective companies or parties related to the companies. According to the law, this constitutes a conflict of interest, which we hereby expressly point out.

Carsten Schmider Media Relations Publishing and/or its affiliated companies have entered into a fee-based agreement with the companies in question or their shareholders for the preparation of editorial reviews. According to the law, this constitutes a conflict of interest, which we hereby expressly point out.

We hereby point out that the clients (third parties) of Carsten Schmider’s publications hold shares in securities/stocks of the companies discussed in the respective publications at the time of publication. The intention is to sell these securities in direct connection with this publication and to participate in rising prices and turnover or to buy additional securities at any time. Carsten Schmider is therefore acting in conjunction with and on the basis of paid instructions from other persons who in turn hold significant share positions. According to the law, this constitutes a
conflict of interest, which we hereby expressly point out.

The publications of Carsten Schmider Media Relations Publishing should therefore not be regarded as independent financial analyses or even investment advice, as there are significant conflicts of interest. The prices quoted for the securities discussed in the respective publications of Carsten Schmider Media Relations Publishing are, unless otherwise stated, the closing prices on the last trading day prior to the respective publication.

Because other research houses and stock market letters also discuss the security, there is a symmetrical generation of information and opinion during this period.

Of course, it should be noted that the securities presented here are listed in the highest conceivable risk class for shares. The companies do not yet have any turnover and are at early stage level, which is both attractive and risky. The financial situation of the companies is still in deficit, which significantly increases the risks. Any capital increases that become necessary could also lead to short-term dilution, which could be to the detriment of investors. If the companies do not succeed in tapping further sources of finance over the next few years, they could even face insolvency and delisting.

There is no guarantee that the forecasts of the experts and management will actually come true. This means that these shares are a bill of exchange for the future. As with any micro cap, there is a risk of total loss if the management’s high expectations cannot be realized in the foreseeable future. For this reason, these stocks only serve as a dynamic addition to an otherwise well-diversified portfolio. Investors should follow the news situation
closely and have the technical prerequisites for trading in penny stocks. The market tightness typical of the segment ensures high volatility. My recommendations are only aimed at experienced professional traders and not inexperienced investors and LOW-RISK investors.

Carsten Schmider Media Relations Publishing
Schöffenstrasse 17
50321 Brühl

Editorial responsibility:
Carsten Schmider, Magister Artium