|Description of Firm’s research process and risks:
||Sales Pulse Research (SPR) is a primary research firm that conducts regular surveys, informal interviews with industry experts, and broad-based industry research on the global network infrastructure market. SPR is run by Tom Morphis, who has been providing research since 2005. Research coverage is U.S. only. The firm publishes regular research updates and summary notes providing a field level view into market trends, CAPEX priorities, vendor strategies, end user evaluations and changing customer needs for firms in the enterprise software, unified communications; cloud computing, telecom supplier, wireless/LTE, and Smart Grid markets.Based on the fact that SPR’s analysts survey and speak with industry consultants and employees of publicly traded companies, there is a risk that the firm could inadvertently collect material nonpublic information or confidential company information.It is important to note that SPR is different from many other market research or survey firms because SPR does not collect quantitative financial information on the companies it covers such as quarterly or annual sales figures, earnings data, or profit margins. Instead, SPR collects qualitative insights on demand trends, competitor analysis, vendor strategies, and consumer feedback on the numerous technologies in the network infrastructure industry. We believe this factor mitigates, to some extent, the information control issues inherent in SPR’s primary research process.