Gerard Hallaren

Janco Partners, Inc. is a full-service investment banking firm focusing primarily on institutional research. They are located in Greenwood Village, Colorado. Janco focuses their research efforts on companies within the telecommunications industry and on selected companies of special interest. In an effort to be a value added resource to their clients in their investment decision making process, their objective is to identify investment opportunities within their area of expertise, and present well thought out opinions to their clients.

Yankee Group Research, Inc. provided consulting and marketing research services. The company was founded in 1970 and was headquartered in Boston, MA.

Founded in 1998 by Avi Cohen, Avian Securities LLC is a broker/dealer headquartered in Boston with an additional office in New York City. The firm is a member of FINRA, NQX, ARCA BATS and the SIPC. Avian Securities specializes in providing brokerage services and information technology research for institutional investors. Their clients range from very large mutual fund families to smaller hedge funds and cross-over funds. Avian Securities focuses on the following sectors: enterprise software, storage, telecommunications, semiconductors and PCs, LCD, RFID and special situations. The firm's research coverage universe includes companies located primarily in the U.S. and Asia.

Stifel, Nicolaus & Co., Inc. (Stifel) is a dual-registered broker-dealer and investment adviser headquartered in St. Louis, Missouri. Founded in 1890, the firm is a subsidiary of Stifel Financial Corp. (NYSE: SF), a financial service holding company. Stifel provides full-service brokerage and investment advisory services to individuals and their families, institutions and businesses, and financial advisors.

Founded in 2007, TownHall Investment Research, formerly JRPG LLC, is an independent research firm located Littleton, Colorado. They follow the wireless and digital communications sectors. Within the wireless sector, the firm focuses on smart phones, handsets, carriers, infrastructure providers and the supply chain to the wireless industry. Their research on the digital communications sector focuses on digital broadcast and mobile television, cable and satellite providers, digital broadcasting, spectrum valuation and usage and streaming video. TownHall Investment Research's approach is to analyze the wireless and digital communications sectors from the buyer's point of view. Most of the firm's experts participate in some element of buying or selling decisions which gives the firm insight into buyer behavior. Town Hall Investment Research then applies their analytical experience to drilling down on individual companies to determine the investment relevance and the timing of impact from the changes. While their strategy is driven by thematic changes, data flow from their industry experts enables them to forecast the shorter-term timing and severity of the change. Town Hall Investment Research builds financial models to understand the investment impact of their experts' input. The core element of their strategy is ROE because it correlates well with valuation and business model sustainability.