NOBLE FINANCIAL GROUP, INC.
BOCA RATON, FLORIDA

Who we are We are a research-driven investment bank focused on small cap emerging growth companies in the healthcare, technology, media, transportation & logistics and natural resources sectors. That's what we are. Who we are is what makes us different. Our people are talented, dedicated, experienced professionals who come together with a common cause; advising on long-term client-solutions by employing innovative, collaborative and responsive strategies. We're passionate and personable. We approach things from our clients' perspective. We know that developing lasting relationships is reliant upon putting our clients' interests before ours. We understand the impact of our services. Insightful advisory and effective capital procurement can change lives. Empowering our clients to create employment, engineer technological and medical breakthroughs, producing products and services that lay the foundation for the future. For more than 30 years these have been our guiding principles. While much has changed over the three decades since we began, these core values and our reputation have not. Our clients must know what to expect from us. Then we can strive to exceed expectations. Our investment decisions are driven by experienced analysts, conducting disciplined and in-depth rigorous research and analysis. By combining our experience with this comprehensive research process we are able to publish thoughtful fundamental research, generating actionable investment ideas for our institutional clients. Our Life Science Advisory Boards is a strategic resource whose experience, relationships and knowledge are utilized throughout NOBLE Capital Markets to enhance all service offerings. Through the Advisory Board, we have access to world-class professionals for substantive advice regarding new discoveries, technologies, products, services and developments. Nathan Cali has more than 13 years of combined healthcare, biotechnology and pharmaceutical experience. Mr. Cali's was previously a sell-side analyst for 9 years with expertise and publications cover many areas of biotechnology, specialty pharmaceuticals (branded and generics), medical devices, and regenerative medicine. He has been quoted in most business journals including Reuters, BioMed Reports and the Washington Business Journal. Mr Cali is the co-founder of Variant Pharmaceuticals an early stage biotechnology company advancing orphan drugs for the treatment of renal diseases. Mr. Cali started his career in healthcare at Andrx Corporation, a biotechnology and specialty pharmaceuticals company known for its expertise in the development of controlled-release drugs. Mr. Cali was a corporate manager dealing in finance, state taxation, corporate governance, patents, drug distribution and business development for the biotechnology firm. Andrx was purchased by Watson Pharmaceuticals in 2006 for $2.0 billion in cash. Prior to joining NOBLE, Mr. Cali gained investment experience as a portfolio account analyst/manager at Franklin Templeton Investments. Mr. Cali holds a B.S. in Finance from The Florida State University and an M.B.A. in Finance from Nova Southeastern University. Nathan also currently holds series 7, 79, 86, and 87 FINRA designations. Nathan Cali has more than 13 years of combined healthcare, biotechnology and pharmaceutical experience. Mr. Cali's was previously a sell-side analyst for 9 years with expertise and publications cover many areas of biotechnology, specialty pharmaceuticals (branded and generics), medical devices, and regenerative medicine. He has been quoted in most business journals including Reuters, BioMed Reports and the Washington Business Journal. Mr Cali is the co-founder of Variant Pharmaceuticals an early stage biotechnology company advancing orphan drugs for the treatment of renal diseases. Mr. Cali started his career in healthcare at Andrx Corporation, a biotechnology and specialty pharmaceuticals company known for its expertise in the development of controlled-release drugs. Mr. Cali was a corporate manager dealing in finance, state taxation, corporate governance, patents, drug distribution and business development for the biotechnology firm. Andrx was purchased by Watson Pharmaceuticals in 2006 for $2.0 billion in cash. Prior to joining NOBLE, Mr. Cali gained investment experience as a portfolio account analyst/manager at Franklin Templeton Investments. Mr. Cali holds a B.S. in Finance from The Florida State University and an M.B.A. in Finance from Nova Southeastern University. Nathan also currently holds series 7, 79, 86, and 87 FINRA designations. Nathan Cali has more than 13 years of combined healthcare, biotechnology and pharmaceutical experience. Mr. Cali's was previously a sell-side analyst for 9 years with expertise and publications cover many areas of biotechnology, specialty pharmaceuticals (branded and generics), medical devices, and regenerative medicine. He has been quoted in most business journals including Reuters, BioMed Reports and the Washington Business Journal. Mr Cali is the co-founder of Variant Pharmaceuticals an early stage biotechnology company advancing orphan drugs for the treatment of renal diseases. Mr. Cali started his career in healthcare at Andrx Corporation, a biotechnology and specialty pharmaceuticals company known for its expertise in the development of controlled-release drugs. Mr. Cali was a corporate manager dealing in finance, state taxation, corporate governance, patents, drug distribution and business development for the biotechnology firm. Andrx was purchased by Watson Pharmaceuticals in 2006 for $2.0 billion in cash. Prior to joining NOBLE, Mr. Cali gained investment experience as a portfolio account analyst/manager at Franklin Templeton Investments. Mr. Cali holds a B.S. in Finance from The Florida State University and an M.B.A. in Finance from Nova Southeastern University. Nathan also currently holds series 7, 79, 86, and 87 FINRA designations.