Torch Partners, LLC and its broker dealer affiliate Torch Securities, LLC were established in early 2004 by former senior executives of JPMorgan Chase.

The company's founders, Ed Jones and Alan Buckwalter, each have 30-plus years of banking experience, most of which
was in the executive suite for JPMorgan Chase and its predecessor banks in Texas. Alan is the retired Chairman of
JPMorgan Chase Bank South Region and former Chairman CEO of Chase Banks Texas. Ed is the former founder,
Chairman and CEO of Chase Banks in the Permian Basin and manager of JPMorgan's commercial banking activities
in Houston.

Torch is actively involved in providing advisory work to business owners and corporations wishing to buy and sell
businesses, raise capital, restructure debt and/or need valuations. The company focuses on middle market transactions
with an enterprise value of $10 million to $200 million that are located in Texas and its surrounding states. Typical clients
are operating in the industrial services, manufacturing and distribution industries. The company uses its founders' extensive
direct personal relationships to deliver the best possible execution for their transactions.

Torch also has a private equity group that invests proprietary funds from private investors and corporate clients.