About Us

Dix Consulting, LLC, a New York Limited Liability Company, doing business as Industry Capital Research, or one of its affiliates (“Industry Capital Research”) provides equity research, including issuer-paid research based on a rate card of $80,000 per year and negotiated discounts reflecting supply and demand. No part of the compensation to Industry Capital Research under this program was, is, or will be directly or indirectly related to any specific recommendations or views expressed its research reports. Unless otherwise noted through the termination of coverage, Industry Capital Research will provide under this program continuing coverage of a participating issuer through the publishing of research reports available through the issuer and Industry Capital Research’s distribution lists, website, and third-party distribution partners. Industry Capital Research and/or its affiliate(s) do not make markets in securities issued by companies discussed in its research reports. Industry Capital Research is not a member of the FINRA or the SIPC and is not a registered broker-dealer or investment adviser.

James Dix, Director of Research at Industry Capital Research, is a CFA® charterholder who has 18 years of experience as an analyst at U.S. broker-dealers covering the media sector, was rated #2 Stock Picker in U.S. Media for 2016 by Thomson Reuters, holds a BA (Economics) and MBA from the University of Chicago and a JD from the University of Virginia, and is a member of the Beta Gamma Sigma and Phi Beta Kappa honor societies.

The information in Industry Capital Research's research reports is believed by Industry Capital Research to be reliable and has been obtained from public and non-public sources believed to be accurate and reliable, but Industry Capital Research does not represent that this information is accurate or complete, and it should not be relied on as such. All statements or opinions contained in any report of Industry Capital Research that include the words "we", "us", or "our" are solely the responsibility of Industry Capital Research and do not necessarily reflect statements or opinions expressed by any person or party affiliated with any company or issuer mentioned in the report.

Industry Capital Research may have published, and may in the future publish, other research reports that are inconsistent with, and reach different conclusions from, the information provided in a particular research report. Industry Capital Research is under no obligation to bring to the attention of any recipient of any research report any past or future research reports.

Industry Capital Research, its officers, employees, and members of their households, or any one or more of them, and their discretionary and advisory accounts, may have a position in any security discussed herein or in related securities and may make, from time to time, purchases or sales thereof in the open market or otherwise, provided that no author of a research report will cause to be executed any order that would change a position in a security of the Company discussed herein in a manner that is contrary to, or inconsistent with, the most recent published recommendations or ratings of Industry Capital Research. Without limitation of the foregoing, no author will cause to be executed: 1) when said recommendation is BUY, any order that would reduce or liquidate a long position or initiate or increase a short position in said security, 2) when said recommendation is HOLD, any order that would initiate or liquidate any long or short position in said security, or 3) when said recommendation is SELL, any order that would initiate or increase a long position or reduce or liquidate a short position in said security.

Opinions, estimates and projections in any research report of Industry Capital Research constitute the current judgment of the author of the research report as of the date of the report, and do not necessarily reflect the opinions of Industry Capital Research and are subject to change without notice. Industry Capital Research has no obligation to update, modify or amend any research report or to otherwise notify a reader thereof in the event that any matter stated therein, or any opinion, projection, forecast or estimate set forth therein, changes or subsequently becomes inaccurate, except if research on the subject issuer is withdrawn.

Any research report of Industry Capital Research is provided for informational purposes only, and is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any financial instruments or to participate in any particular trading strategy in any jurisdiction. Investors should consider any research report of Industry Capital Research as only a single factor in making their investment decisions. The financial instruments discussed in any research report of Industry Capital Research may not be suitable for all investors and investors must make their own investment decisions using their own independent advisors as they believe necessary and based upon their specific financial situations and investment objectives.

Investors should consider whether any advice or recommendation in any research report of Industry Capital Research is suitable for their particular circumstances and, if appropriate, seek professional advice, including tax advice. No research report of Industry Capital Research is to be relied upon as a substitute for the exercise of independent judgment, and no judgment is expressed or should be implied in any report of Industry Capital Research as to the suitability of any security described therein for any specific investor or any specific investment portfolio.

Prices and availability of financial instruments are subject to change without notice. If a financial instrument is denominated in a currency other than an investor’s currency, a change in exchange rates may adversely affect the price or value of, or the income derived from, the financial instrument, and such an investor effectively assumes currency risk. In addition, income from an investment may fluctuate and the price or value of financial instruments described in any research report, either directly or indirectly, may rise or fall. Past performance is not necessarily indicative of future results, and a loss of capital may occur.

No report of Industry Capital Research may be reproduced, distributed or published by any person for any purpose without Industry Capital Research's prior written consent. Please cite source when quoting.