Bulletin Board Securities are over-the-counter securities that are not part of the NASDAQ system. Bulletin Board securities trade in the "over-the-counter" OTC market and are quoted on the OTC systems such as, OTC Bulletin Board (OTC BB or the Pink Sheets.) Although the NASD oversees the OTCBB; the OTCBB is not part of the NASDAQ market.

Market Makers of Bulletin Board securities are unable to use electronic means to interact with other dealers to execute trades. They must manually interact with the market, i.e. use standard phone lines to communicate with other dealers to execute trades. This can and does cause delays in the time it takes to interact with the market place. This coupled with the recent increase in volume has led to wide price fluctuations in Bulletin Board securities, and lengthy delays in execution times as well as the reporting of execution times. Clients should use caution when placing market orders and understand the risks associated with trading in Bulletin Board securities.

Risks Associated with Bulletin Board Trading
All securities trading involves risk. However, trading in certain securities may involve greater risk than others. Such is the case with trading Bulletin Board securities. Risks associated with trading Bulletin Board securities include, but may not be limited to those listed below. WALLSTREET ELECTRONICA will not advise its Customers on the suitability of any particular trading strategy or method of trading. As with all other types of activity initiated through WALLSTREET ELECTRONICA, you, the Customer, must make the determination as to whether or not this type of trading is suitable for you. This list is not represented as a complete listing of all the risks associated with trading Bulletin Board securities. We encourage you to seek out other independent information concerning this method of trading prior to making a final decision as to whether or not trading Bulletin Board securities is suitable for you.

Limited Availability of Order Information and Market Data
You may receive an automated notification of Bulletin Board security order execution via the automated method you may have requested or you may contact a live Representative to determine whether or not your order has been executed. However, as reports of Bulletin Board securities executions may be delayed significantly, the resulting automated reports may be delayed as well. Note that these automated notifications are supplied on a best effort basis and are not guaranteed. Market data such as quotes, volume and market size may or may not be as up to date as might be expected with NASDAQ or Listed securities.

Cancel / Replace Risk
You can attempt to change or cancel a Bulletin Board order as you would with a NASDAQ or listed security. All cancel/ request orders are subject to prior execution. However; because of the manual nature of the Bulletin Board OTC market, delays in confirming an `out` on a cancel may be more prevalent than those that might be experienced in the NASDAQ or listed markets.

Communications Risk
A high volume of orders or a computer/communication problem may prevent entry or delay execution of your order. Significant market volume and/or system outages may effect the timeliness and availability of execution reports.

Liquidity Risks
Liquidity refers to the ability to freely buy and sell securities at given prices and volumes. In general, the more activity in a given security, and the more market makers participating in a security, the greater the liquidity in that security. Because you will often times have far fewer market makers participating in a Bulletin Board security, the liquidity in that security may be significantly less than what might be experienced in the NASDAQ or listed markets. As such, you may only receive a partial execution or your order may not be executed at all. Additionally, the price received on a market order may be significantly different from the price quoted at the time of order entry. Additionally, when fewer shares of a given security are being traded, larger spreads between bid and ask prices and volatile swings in price may result. You may want to carefully consider the use of limit orders when such conditions prevail. While a limit order does not guarantee an execution, it will prevent receiving executions at unexpected prices. Generally, higher trading activity usually results in increased liquidity and a greater likelihood of your order being executed.