The attached sample report is an abbreviated version of actual research we published on December 12, 2002 when we initiated coverage of ON Technology (NASDAQ: ONTC). This sample is presented here for informational purposes only, and does not represent a public solicitation to buy shares of the security named herein. For additional information, please contact us at (401) 682-2205.

GTECH Initiation Report

The attached article appeared in Wall Street Research Magazine’s November 2001 issue and details some of the work JP Mark did to build Wells Fargo’s research department.

Wall Street Research Magazine Report

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Disclosure

Our research does not represent a complete analysis of every material fact regarding any company, industry or security. The opinions expressed by our analysts reflect the judgments of the authors at the date published and are subject to change without notice. Facts have been obtained from sources considered reliable, but are not guaranteed. Farmhouse Equity Research, LLC, its directors and employees and their families are prohibited from having a position in the securities of the companies we cover. Farmhouse Equity Research, LLC is an independent research firm and is not affiliated with any investment bank. Farmhouse Equity Research, LLC does not act as placement agent for securities for which it has research coverage, and we do not attempt to raise capital for companies. Farmhouse Equity materials, including our logo and trademark, are copyrighted; reproduction or redistribution of our reports or other materials, either electronically or via hard copy, without express written permission, is prohibited. Additional information is available upon request.