Terms of Use

The information contained herein does not constitute a representation by GG or a solicitation for the purchase or sale of securities. No representation or warranty, expressed or implied, is made as to their accuracy or completeness of the information provided herein. It is your responsibility to independently verify all information with the companies mentioned if you choose to rely on this information. The author, editor and publisher are not responsible for errors or omissions.

GG receives no compensation of any kind in exchange for referring to the companies that are mentioned on the Web site. Any opinions expressed on the Web site are subject to change without notice.

Please read the following Terms and Conditions carefully.

By using the Web site located at www.grayghostfund.com and the pages and services contained therein (the "Service"), you agree to these terms and conditions ("Terms and Conditions"). If you do not agree to these Terms and Conditions, you should not use the Service ("Service"). These Terms and Conditions constitute an agreement between you and The Gray Ghost Fund, Incorporated, a Georgia Corporation (the "Company"). The Company reserves the right to make changes to the Service and these Terms and Conditions at any time. The changes will take effect upon their posting on the Service (unless otherwise noted in such changes). Please review these Terms and Conditions as often as you feel necessary, since your continued viewing of the Service will serve as your confirmation that you agree with any and all changes as they occur.

No Investment Advice

The Company is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker and other qualified tax, legal and investment advisors before purchasing or selling any securities viewed on the Service. The Service is an Internet-based information service and is not intended to provide tax, legal or investment advice. Nothing on the Service constitutes a solicitation or recommendation by the Company for the purchase or sale of any securities or other investments. The Company does not guarantee the accuracy, completeness, or timeliness of, or otherwise endorse, the facts, views, opinions or recommendations contained on the Service. The user uses and applies the information provided on the Service at his or her own risk. Users should always consult other sources of information and assistance, including financial advisors, legal advisors, investment advisors, tax advisors, and licensed brokers, before making investment decisions. Additionally, users should always keep in mind that past performance is no guarantee of future results, and consequently any projections or forecasts based on historical factors are speculative. The Company and/or its owners, officers, employees, and/or members of their families may hold a position in and/or engage in transactions with respect to the securities of the companies mentioned herein.

All information presented by the Company is based on information believed to be reliable by the Company. The information is not guaranteed to be accurate, and should not be considered to be all-inclusive. A company's actual results could differ materially from those described in any forward-looking statements or announcements discussed herein. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities.

Trademarks and Copyrights

The Gray Ghost Fund logo is a trademark of the Company. All other trademarks on the Service are the property of the respective trademark owners. Unauthorized use of these names and/or logos is prohibited by law. All designs, Web pages and source code comprising the Service are copyrighted by the Company beginning in 2005. ALL RIGHTS RESERVED.

Restrictions on Use

Materials used and displayed on the Service, are the property of the Company. Proprietary Materials may not be copied, except by a user solely for his or her own personal and non-commercial use. Any other use of the Service and/or the Proprietary Materials, including any reproduction, modification, distribution, uploading, dissemination, retransmission, broadcasting or republication, reprinting or reposting without the prior written permission of the Company is strictly prohibited. If you wish to republish or repost any Proprietary Materials you must first obtain a license from the Company, which the Company may grant or deny in its sole discretion and which shall require a copyright notice evidencing the Company's ownership of the copyrighted material. The material in the Service is provided for lawful purposes only.

Policy Concerning Claims of Infringement

It is the policy of the Company to respond expeditiously upon receiving notice of claimed intellectual property infringement on the Service. The Company will promptly process and investigate notices of alleged infringement and will take appropriate actions under the Digital Millennium Copyright Act and other applicable intellectual property laws.

Third Party Information

This site includes general information, commentary, articles and other data concerning the microfinance industry and other topics. Some of that content is supplied by persons that are not affiliated with Gray Ghost ("Third Party Content"). Some Third Party Content are articles provided by persons not affiliated with Gray Ghost. Other Third Party Content is available through hyperlinks to third party Web sites, and its source is clearly and prominently identified.

Gray Ghost does not prepare, edit, or endorse Third Party Content included on its Web site. Gray Ghost, therefore, does not guarantee the accuracy, timeliness, completeness, or usefulness of Third Party Content, and is not responsible or liable for Third Party Content included on Gray Ghost's Web site or through links to other third party sites. You will use Third Party Content at your own risk.

Disclaimer

THE COMPANY IS NOT RESPONSIBLE FOR THE CONTENT OR TIMELINESS, CORRECTNESS, COMPLETENESS, RELIABILITY OR ACCURACY OF ANY INFORMATION ON THE SERVICE WITHOUT LIMITATION. THE MATERIAL IN THE SERVICE MAY INCLUDE TECHNICAL INACCURACIES OR TYPOGRAPHICAL ERRORS. THE COMPANY MAY MAKE CHANGES OR IMPROVEMENTS TO THE SERVICE AT ANY TIME. THE SERVICE AND INFORMATION CONTAINED IN THE SERVICE BY A THIRD PARTY IS PROVIDED "AS IS" AND WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO, TITLE, NON-INFRINGEMENT, IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE OR ANY OTHER WARRANTIES AND, TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, THE COMPANY AND ANY THIRD PARTY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE COMPANY DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE USE OF, OR THE RESULTS OF THE USE OF, THE SERVICE, WHETHER IN TERMS OF CORRECTNESS, COMPLETENESS, TIMELINESS, ACCURACY, RELIABILITY, OR OTHERWISE. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM THE SERVICE SHALL CREATE ANY WARRANTY NOT EXPRESSLY MADE HEREIN. THE COMPANY IS NOT RESPONSIBLE FOR ANY INVESTMENT DECISIONS, DAMAGES, LOSSES OR OTHER LIABILITIES RESULTING FROM YOUR USE OF THE SERVICE.

THE COMPANY DOES NOT WARRANT THAT THE FUNCTIONS CONTAINED IN THE SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE SERVICE WILL BE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. YOU UNDERSTAND AND AGREE THAT ANY CONTENT DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICE IS DONE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGES TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOADING OF SUCH CONTENT. YOU (AND NOT THE COMPANY) ASSUME THE ENTIRE COST OF ALL NECESSARY SERVICING, REPAIR OR CORRECTION.

YOU UNDERSTAND AND AGREE THAT THE DISCLAIMERS SET FORTH HEREIN APPLY TO ALL CAUSES OF ACTION NOW KNOWN OR WHICH MAY ARISE IN THE FUTURE.

Limitation of Liability

The Company or any third party will not be liable for any damages or injury caused by the Service or any Content on the Service, including, but not limited to, any error, omission, interruption, defect, delay in operation or transmission, failure of performance or computer virus. The Company or any third party will not be liable for any damages or injury, including but not limited to, special or consequential damages that result from your use of, or your inability to use, the Service and/or the materials contained in the Service even if there is negligence by the Company or any third party or if an authorized representative of the Company or any third party has been advised of the possibility of such damages, or both. The above limitation or exclusion may not apply to you to the extent that applicable law may not permit the limitation or exclusion of liability for incidental or consequential damages. The Company or any third party will not be liable for any damages or injury, including but not limited to, special or consequential damages that may result from linking to any third-party Web site.

Indemnification

You agree, at your own expense, to indemnify, defend, and hold harmless the Company, any funds mentioned, and its and their respective employees, officers, directors, representatives, suppliers, partners, and agents, against any claim, suit, action, or other proceeding brought against the Company, the funds mentioned, and its and their respective employees, representatives, suppliers, partners, and agents, to the extent that such claim, suit, action or other proceeding brought against the Company, its employees, officers, directors, representatives, suppliers, partners, and agents is based on or arises in connection with your use or misuse of the Service in any way. You agree to pay any and all costs, damages, and expenses, including, but not limited to, reasonable attorneys' fees and costs awarded against or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim.

Termination
The Company may terminate any rights granted hereunder at any time by ceasing to make the Service available to you. You may terminate any obligations granted hereunder by destroying: (a) all materials obtained from the Service, and (b) all related documentation and all copies and printouts. The Company may prevent your access to the Service immediately without notice if, in its sole judgment, you breach any provision of these Terms and Conditions.

Jurisdiction
The Company makes no representation that the materials provided on the Service are appropriate or available for use in locations outside of the United States, its territories and possessions. If you use the Service from other locations, you are responsible for compliance with applicable local laws.

Forward-Looking Statements
Certain material on the site may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as: may, future, plan or planned, will or should, expected, anticipates, draft, eventually or projected. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies` annual report and other filings made by such company with the Securities and Exchange Commission or other reporting entity. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the Company undertakes no obligation to update such statements.

We encourage you to carefully read and review, if and to the extent available, any information concerning the profiled funds or companies, available at the Web sites of the U.S. Securities and Exchange Commission (SEC), the National Association of Securities Dealers (NASD), and any applicable securities administrator of your jurisdiction or country. We also strongly recommend that you read the SEC advisory to investors concerning Internet Stock Fraud, as well as related information published by the NASD. The NASD has published information on how to invest carefully.

You acknowledge that the Company is an Internet-based information service and that we are not an investment advisory service, a broker-dealer, nor an investment advisor and do not purport to tell or suggest which investment opportunities you should monitor and/or which funds and/or securities you should purchase or sell. You acknowledge that you are not relying on us, or on any information herein, and will consult with your own advisors regarding any decisions as to the profiled fund or company.

You acknowledge and agree that the funds highlighted on our site are not a solicitation or recommendation to buy, sell or hold securities and does not provide an analysis of the financial position of the fund. You agree that all statements and opinions contained in fund profiles are subject to change without notice and without liability to us or the funds mentioned. We and our funds are not liable for any investment decisions by our readers. You are solely responsible for independently investigating and fully understanding all risks before investing and for your investment decisions. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser or broker prior to completing any such purchase or sale decision. We and our advertisers are not registered investment advisers, or broker-dealers, or members of any financial regulatory bodies.

Reading any information on the Service, including advertisement, shall not create under any circumstances an offer to buy or sell stock in any company, nor shall it create any principal-agent relationship between you and the Company. The Service is void where prohibited.

Miscellaneous
These Terms and Conditions are for the benefit of the Company, its licensees, successors and assigns. These Terms and Conditions will be governed and interpreted pursuant to the laws of the County and State of Georgia, United States of America and you hereby consent to the personal jurisdiction and venue of such courts. If any part of these Terms and Conditions is unlawful, void, or unenforceable, that part will be modified to the extent possible to make it enforceable, or at the Company's election, such part will be deemed severable and, in either event, such modification or severance will not affect the validity and enforceability of any remaining provisions. Possible evidence of use of the Service for illegal purposes will be provided to law enforcement authorities. These Terms and Conditions contain the entire agreement between the parties relating to the use of the Service.