1. www.InstitutionalAnalyst.com
BACKGROUND & HISTORY
Institutional Analyst Inc. was founded in 1993 under the name Perry & Company and based in
Beverly Hills, CA. Since that time the shares of its publicly traded clients, have had an
accumulated valuation increase in excess of $4 billion. This is from initiation of coverage in
research reports that we both publish and distribute, to subsequent peak valuation.
We now operate 12 industry specific websites with newsletters and 16 industry specific
magazines. Recently we launched the Institutional Analyst TV Network (IATN) featuring 11
industry specific channels, to host Interviews with industry Executive leaders.
Since our founding in 1995, Institutional Analyst Inc. has had 16 client companies, whose shares
have each individually increased in value, in excess of $100 million.
Large Value Gainers
Aim-Smart Internet - ISP $242 million 1997
Cellular Biomedicine Biotech / Stem Cell $323 million 2015
China Voice Internet / VOIP $171 million 2006
Circle Group Holdings Incubator $315 million 2003
Cross Media Marketing Internet - Advertising $183 million 2000
Crowd Gather Internet – Social Media $100 million 2010
Dynamic Web Internet – B2B $570 million 1997
Kushner-Locke Entertainment - Movies $238 million 1995
Max Sound Entertainment – Audio Software $200 million 2012
Paid Inc Entertainment - Portal $126 million 2005
Raptor Technology Internet – Data Storage $108 million 2005
Roaming Messenger Internet - Messaging $474 million 2003
SLS Loudspeakers Entertainment - Hardware $152 million 2003
USA Technology Technology – Payment Solutions $140 million 2002
Vertex Energy Alternative Energy / Special Situation $262 million 2012
XsunX Alternative Energy - Solar $439 million 2006

2. www.InstitutionalAnalyst.com
On a percentage basis amongst our 70 past clients, 48 eight doubled in value and 8 have
increased by over 10-fold in value. Most investment managers, investment professionals
and/or investors consider themselves fortunate to have had even one stock go up 10 fold in
their career. We’ve had 8, a track record, which we believe is unmatched.
TRACK RECORD (70 CLIENTS):
200% Gain: 44
300% Gain: 28
500% Gain: 18
1000% Gain: 8
Less than a double: 14, with average gain of 46%
Losers: 10 (85% success rate)
Large Percentage Gainers
Accurexa Stem Cell 11x 2015
Aim-Smart Internet - Retail 17x 1996
Circle Group Holdings Incubator 60x 2003
Dynamic Imaging Entertainment 7x 1997
Dynamic Web Internet - B2B 8x 1997
Flux Power Alternative Energy 9x 2013
Kushner-Locke Entertainment - Movies 7x 1995
Lime Light Media Entertainment - Advertising 7x 2003
Media-X Entertainment – Retail Music 9x 1998
Olfactory Biosciences Biotech 8x 1996
Raptor Technology Internet - Data Storage 9x 2008
Stock Web Holdings Internet – Financial Portal 10x 2006
SLS Loudspeakers Entertainment - Hardware 20x 2003
Vertex Energy Alternative Energy – Special Situation 22x 2012
Viral Genetics Biotech 4.7x 2005
Viral Genetics Biotech 12x 2009
XSunX Alternative Energy - Solar 26x 2006
* Bold represents 10 fold-gain.
We align ourselves with both management and shareholders, by seeking to have 90% of our
retainer in the form of restricted common stock from our client companies. Quite simply the
better our clients do, the better our subscribers do and then the better we do.

3. www.InstitutionalAnalyst.com
The key to our success has been and will continue to be attributed to our excellent and timely
selection of our clients, which outperform Wall Street. This has enabled us to limit our client
base to 3-5 clients per year, whereas competing Wall Street firms may have a client roster of 50
or more clients per year - and yet generate significantly less revenue than we do.
As an example of a “valuation increase,” in 1995 we began working with the Kushner Locke
Company, a NASDAQ listed Entertainment Company. Operating under the newsletter banner
Hollywood Stock Review, the shares of Kushner Locke increased from $3 per share at the time
coverage was initiated, to a subsequent peak of $21, three years later. With 13 million shares
issued and outstanding, the “value increase” equated to $230 million.
The Hollywood Stock Review was a hard-copy research publication, which covered a variety of
Hollywood Entertainment companies and was read primarily by investors, who had an interest
in the Entertainment Industry.
In 1995 our Research reports were distributed using traditional mail and additionally marketed
via traditional print advertising in publications such as Investor’s Business Daily and trade
publications such as the Hollywood Reporter. Reports were also mailed directly to registered
stockbrokers using rented subscriber lists.
In 1996 we launched a similarly distributed research service called the Restaurant Stock
Review. In 1997 we launched the Internet Stock Review, which to this date, remains our
flagship publication. This also marked the start of our practice of issuing industry related
newsletters and websites, to provide coverage for our clients - which we have successfully
employed ever since.
In 1999 we operated under the name of the Internet PR Group, to reflect our growing reliance
on the Internet for distribution of our three newsletters and research reports at the time – the
Hollywood, Restaurant and Internet Stock Reviews.
Shortly thereafter, we became known as one of the most successful investment research
providers covering the Internet industry on Wall Street and reached a subscriber base in excess
of 30,000. Our subscriber base, as it does today comprises primarily of investors looking for
mid-term to long-term gains, as opposed to day traders. If however a company is looking for
short-term price and volume spikes, we can recommend numerous quality outside service
providers.
In 2000 we launched the Incubator Stock Review after our success in identifying CMGI, Internet
Capital Group, M&A West and Rare Medium early within the Internet Stock Review, with our
subscribers witnessing gains of 5,700% in CMGI and 1,988% in Rare Medium. Being year 2000, it
was a short-lived project.
It is important to note we have a genuine subscriber-readership base, as opposed to a spam or
purchased list. Readership includes individual investors and a broad spectrum professional
Investors including venture capitalists, independent investment managers, mutual funds and

4. www.InstitutionalAnalyst.com
hedge funds. Again, for the most part, our subscriber base is long term in nature, as opposed to
traders. These same subscribers (including brokerage firms) have recommended many of our
past clients - to work with us.
In 2002 we launched the Biotech Stock Review, which has had enjoyed enormous success.
Aided by our contacts in the underwriting community, they help us identify early stage
development companies in very fast moving and volatile industry.
Beginning in 2005 after a brief hiatus, we re-launched under our current name, Institutional
Analyst Inc. and opened a Chicago office. In 2009 we opened an office in Port Jefferson, NY and
our Florida office in 2011.
After staying on the sidelines for most of 2008 due to market conditions, we issued our first
broad based recommended list since 2002 and launched a Private Equity Stock Review, and a
Special Situations Research division, which is unencumbered by industry classification – all in
2009 to take advantage of bear market valuations.
Similar to the launch of the Incubator Stock Review in 2000, we decided to launch a Patent
Stock Review in the fall of 2012, on the heels of two “fortunate” picks within the Internet Stock
Review Watch List.
Those picks were VirnetX Holdings (VHC), which traded from $6 to subsequent high of $42 and
a billion dollar market valuation and Vringo (VRNG), which traded from $2 to $5.73. With those
two picks, we had an instant audience for the patent monetization category. That site was
officially launched and announced in a press release in February of 2013 and we quickly
become the leading research firm in that space.
In 2014 we launched the Alternative Energy Stock Review and the Beverage Stock Review. In
2015 we launched the Stem Cell Stock Review will be launching the Marijuana Stock Review.
During 2014 we also launched 13 Industry specific magazines, using technology developed by
Flip-Board, which is used millions of people every day, as an easy way to keep our subscribers
abreast of industry news, without having to send an email.
Websites, Newsletters / Magazines
Alternative Energy Stock Review - 2011
Beverage Stock Review - 2014
The Biotech Stock Review - 2002
Hollywood Stock Review - 1995
Internet Stock Review - 1997
Marine Exploration Stock Review - 2013
Marijuana Stock Review 2015
National Stock Review - 2005
Patent Stock Review - 2012

5. www.InstitutionalAnalyst.com
Restaurant Stock Review - 1995
Special Situation Research – 2009
Stem Cell Stock Review - 2015
Private Equity Stock Review - 2009
13D Stock Review -2014
Television Network:
Beverage Exec TV
Biotech Exec TV
Internet Exec TV
Patent Exec TV
Up & Comer TV