Pual, did you take too many hits of acid during the 60's? That's no research report. It is merely a compilation of verbage that can be found either in VLVT's PRs or website.
Second, did you look at the format of the "research report" on the IPO website? Have you ever seen that type of format in a PR? I'll answer for you... NO. There's a reason --because of the many horizontal lines.
I suspect they would have placed the entire "research report" in the PR if they could have. But instead, they mentioned it again via it's disclaimers, which are big blocks of verbage.