Terms of Use

   August 6, 2004

To Enter this Site, Please Acknowledge the Following:
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Content and Limitation of Liability:

   This website does not constitute an offer to sell or a solicitation of an offer to buy or sell any security, nor is it advice or a recommendation to enter into any transaction. Any offer to sell or a solicitation of an offer to buy or sell shall be made solely by a private placement memorandum. The information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Bayesian Efficient Strategic Trading, LLC ("BEST") or its affiliates to any registration requirement within such jurisdiction or country.

   This website is based on information obtained from sources that BEST considers to be reliable; however, we make no representation as to, and accept no responsibility or liability for, the accuracy or completeness of the information. BEST EXPRESSLY DISCLAIMS ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. BEST will not be responsible for any loss or damage that could result from interception by third parties of any information transmitted electronically or otherwise in connection with this site. In addition, the Content provided represents the views and opinions solely of the author or the indicated source. Using the content or information provided is your own decision, and BEST is not liable for any loss or damages that may arise from doing so. You agree that you shall independently confirm any information presented to you through the service before relying on such information. BEST, LLC and its employees, contractors, agents and various contributors to the service have no duty to correct or update any inaccurate or out-of-date Content.

Performance Results and Track Record:

   All valuations are provided for informational purposes only and may be based on subjective assessments and assumptions using one among alternative methodologies that produce different results; accordingly, such valuations should not be viewed as facts and should not be relied upon as accurate prediction of future events. Information contained herein is subject to change at any time without notice.

   Returns are actual, net of fees and expenses, and include the reinvestment of dividends and other earnings to the extent any exist with respect to each index. All investment in securities involve a risk of loss of capital and no guaranty or representation can be made that an investment will generate profits or that an investment will not incur loss of invested capital.

   Past performance is neither an indication nor guarantee of future performance. BEST considers the information made available in this web document to be accurate and current on the date shown above, but does not represent or make any claim that it is complete. As such, any performance data available herein is for specific research purposes and simulations and figures are not intended as a guide for how much money one might or might not make in the future if this strategy is implemented. Please read the section dedicated to understanding the risk involved in trading.

Access to Site:

   Certain sections of this web site are electronically protected against unauthorized access. In compliance with certain legal restrictions and regulations, BEST is required to ascertain your status as an accredited investor before you are allowed access to the private areas of the site. We will not allow access to the private areas of the site unless you meet other certain suitability requirements; in all cases, BEST reserves the right to a final say and use of professional discretion in allowing or refusing access to anyone.

   Additionally, by accessing the password-protected area of this site, you agree to immediately contact BEST if there is any change in your status as an "accredited investor" under Regulation D promulgated under the Securities Act of 1933. For individuals such changes may include, for example, a Registered User's net worth declining below $1,000,000, an expectation that income for the next twelve months may total less than $200,000, or an expectation that the Registered User's combined income with his or her spouse may total less than $300,000 in the next twelve months. All Registered Users, including individuals and entities, should communicate with their legal advisors if they believe that their status as an accredited investor has changed.

Outside Links:

   BEST may provide a link to other sites as part of a BEST service. BEST does not control the other sites, and BEST makes no representations whatsoever concerning the content of those sites. The fact that BEST has provided a link to a site is not an endorsement, authorization, sponsorship, or affiliation with respect to such site, its owners, or its providers. There are risks in using any information, software, or products found on the Internet, and BEST cautions you to make sure you understand these risks before retrieving, using, relying upon, or purchasing anything via the internet. You agree that under no circumstances will you hold BEST liable for any loss or damage caused by use of or reliance on any content, goods or services available on other sites.

Please acknowledge your understanding of this important statement by clicking "I agree" below:

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