This research report constitutes private research and is for informational purposes only and the opinions of the author herein are strictly intended for reading only by those persons to whom it is or has been directly released by the author. The data and analysis contained herein are provided "as is" and without representation or warranty of any kind, either expressed or implied. San Gabriel Fund and the author make no representation or claim guaranteeing the accuracy of any opinions or information. Neither San Gabriel Fund, the author, nor his agents nor any third party data provider, shall have any liability of any nature whatsoever for any loss of whatever nature sustained by any person or entity which has relied on the information or analysis contained in this publication. You should always obtain reliable current information and perform your own due diligence before investing or trading. You bear responsibility for your own investment research and trading decisions and this publication does not serve as a substitute or endorsement for either and the author disclaims all responsibility and liability in connection therewith. Always seek the advice of a qualified securities professional before making any investment. This is not an investment recommendation and the data, and analysis based upon the data, may be subject to error despite best efforts. All opinions expressed herein are subject to change without notice.Section 17(b) of the Securities Act of 1933 requires that any person that uses the mails to publish, give publicity to, or circulate any publication or communication that describes a security in return for consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, must fully disclose the type of consideration (i.e. cash, free trading stock, restricted stock, stock options, stock warrants) and the specific amount of the consideration. In connection therewith, San Gabriel Fund, LLC and/or J. P. Moreno have received the following consideration and/or otherwise has ownership in the securities of the Profiled Company, as follows: (a) San Gabriel Fund, LLC and a related fund own approximately 2 million shares of VirnetX Holding Corp. common stock. San Gabriel Fund, LLC is not receiving any compensation from VirnetX in connection with the release and/or dissemination of this report.