Terms and Conditions
By accessing this site, you agree to be bound by the following terms and conditions:
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 Investing Whisperer
Investing Whisperer 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.
Investing Whisperer 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 Investing Whisperer is to provide independent research concerning certain publicly traded companies, thereby giving investors additional information with which they can make their own investment decisions. Investing Whisperer 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:
Ownership Disclosure
Any company mentioned or featured in Investing Whisperer 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.
Opinions
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.
Personal Trading
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.
Reprint Fees
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 Investing Whisperer 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.
Finder’s Fees
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.
Conferences
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.
Property Trips
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
Legal Contract
Your use of the Investing Whisperer 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”.
Accepting the Terms
In order to use the Services, you must first agree to the Terms. You may not use the Services if you do not accept the Terms. You can accept the Terms by:
- clicking to accept or agree to the Terms, where this option is made available to you in the user interface for any Service; or
- by actually using the Services. In this case, you understand and agree that we will treat your use of the Services as acceptance of the Terms from that point onwards.
By clicking to accept these Terms or using the Services, you are agreeing that you have read, understand and accept these Terms, will abide by and are legally bound by these Terms.
Provision of the Services
We are constantly innovating in order to provide the best possible experience for our users. You acknowledge and agree that the form and nature of the Services which we provide may change from time to time without prior notice to you. You acknowledge and agree that we may stop (permanently or temporarily) providing the Services to you at our sole discretion, without prior notice to you. You may stop using the Services at any time, do not need to inform us when you stop using the Services.
Use of the Services by you
In order to access certain Services, you may be required to provide personal information about yourself (such as identification or contact details) as part of the registration process for the Service, or as part of your continued use of the Services. You agree that any registration information you give to us will always be accurate, correct and up to date. We will maintain all personal information provided as strictly private and confidential.
You agree to use the Services only for purposes that are permitted by these Terms or any applicable law, regulation or generally accepted practices or guidelines in the relevant jurisdictions (including any laws regarding the export of data or software to and from Canada or other relevant countries).
You agree not to access (or attempt to access) any of the Services by any means other than through the interface that is provided by our website, unless you have been specifically allowed to do so by us.
You agree that you will not engage in any activity that interferes with or disrupts the Services (or the servers and networks which are connected to the Services).
Unless you have been specifically permitted to do so, you agree that you will not reproduce, duplicate, copy, sell, trade or resell the Services for any purpose.
Your passwords and account security
You agree and understand that you are responsible for maintaining the confidentiality of passwords associated with any account you use to access the Services. Accordingly, you agree that you will be solely responsible to us for all activities that occur under your account. If you become aware of any unauthorized use of your password or of your account, you agree to notify us immediately.
Content in the Services
The copyright in all material on this site is held or used by permission by us. The contents of this site are provided for informational purposes only and may not, in any form or by any means, be copied or reproduced, summarized, distributed, modified, transmitted, revised or commercially exploited without our prior written permission.
You understand that all information within the Services may be protected by intellectual property rights which are owned by us. You may not use, copy, modify, rent, lease, loan, sell, distribute or create derivative works based on this content (either in whole or in part).
You understand that by using the Services you may be exposed to content that may contain errors or omissions and that, in this respect, you use the Services at your own risk.
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.
Proprietary rights
You acknowledge and agree that we own all legal right, title and interest in and to the Services, including any intellectual property rights which subsist in the content and Services (whether those rights happen to be registered or not, and wherever in the world those rights may exist).
Nothing in these Terms gives you a right to use any of our trade names, trademarks, service marks, logos, domain names, and other distinctive brand features. You agree that in using the Services, you will not use any trade mark, service mark, trade name, logo of any company or organization in a way that is likely or intended to cause confusion about the owner or authorized user of such marks, names or logos.
Exclusion of Warranties
You expressly understand and agree that your use of the Services is at your sole risk and that the services are provided “as is” and “as available”. In particular, we do not represent or warrant to you that:
- 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.
Limitation of Liability
You expressly understand and agree that we shall not be liable to you for any direct, indirect, incidental, special consequential or exemplary damages which may be incurred by you, however caused and under any theory of liability. This shall include, but not be limited to, any loss of investment or profit (whether incurred directly or indirectly) or other tangible or intangible loss.
Changes to the Terms
We may make changes to the Terms from time to time. When these changes are made, we will make a new copy of the same available on our website. You understand and agree that if you use the Services after the date on which the Terms have changed, we will treat your use as acceptance of the updated Terms.
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 Investing Whisperer 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.
