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Disclosure of Order Execution

Pursuant to SEC Rule 11Ac1-5 we are providing the following information to the public.

Rule 11Ac1-5 generally requires market centers that trade national market system securities to prepare and make available to the public monthly electronic reports that include uniform statistical measures of execution quality for market orders or limit orders received or executed by a market center during regular trading hours. Under Rule 11Ac1-5, as an OTC market maker, WR Hambrecht is considered a market center.

The information contained herein is generally related to our activities as an OTC market maker and may or may not include information on transactions conducted through our online trading platform.

For more information on SEC Rule 11Ac1-5, please visit the SEC’s web page at www.sec.gov, or the FINRA’s web page at www.nasdr.com.

Click here for order execution disclosure information on WR Hambrecht + Co.