Terms of Use

Navigation and public searching of this website are subject to the Terms and Conditions below:

Guarantees, Responsibilities and Damages

1. Positivo Tecnologia does not guarantee that the contents, instruments and materials contained, utilized and offered in this website are exactly up-to-date or complete and does not accept responsibility for damages caused by eventual errors of content or shortcomings of equipment.

2. The Company does not accept express or tacit responsibility for the improper use of the information, instruments or materials made available and/or of the equipment used for this website, for whatever purpose made by any user, who has entire responsibility for eventual harm done to their own rights or of third parties, whether or not caused by this improper use.

3. Under no circumstances, will Positivo Tecnologia, its directors, executive officers or employees be held responsible for any direct or indirect, special, incidental or consequential losses or expenses arising out of the connection with this website or use on its part or incapacity of use by anyone, or with regard to any shortcoming in performance, error, omission, interruption, defect or delay in operation or transmission, computer virus or breakdown of line or of the system, even if the Company or its representatives have been advised of the possibility of such damages, losses or expenses.

4. The adequate provisioning of all the resources of the Internet, without exception, is the entire responsibility of the user of this website.

5. Positivo Tecnologia does not accept responsibility for the contents of other websites (a) whose addresses are available on the pages of this website or (b) the address of whose website is available to them. The Company does not guarantee the compensation of any damage caused by the websites mentioned in this item.

6. With regard to the exchange of messages between the user and Positivo Tecnologia through the Internet, please consult its Privacy Policy.

7. An investment in securities involves a high degree of risk. Please review the Company’s Risk Factors.

Confidential Nature of the User´s Information

Positivo Tecnologia reserves the right to improve the functioning of this website because of the analysis and consolidating of the information and suggestions collected and of the opportunities of these for all of the users of the website. For further advice on the use of information collected at this website, please consult its Privacy Policy.

Author´s Copyrights and Intellectual Property

Unless there is any regulation to the contrary, all the contents of the pages of this website, such as information, materials, tools, paging, graphs and drawings belong to Positivo Tecnologia or to third parties, who have legally ceded their rights of usage.

Comments on EBITDA and Adjusted EBITDA

EBITDA comprises income before net financial expenses, income and social contribution taxes and depreciation and amortization. The calculation of EBITDA is not based on accounting principles adopted in Brazil, does not represent cash flow for the periods in question and should not be considered as an alternative to net income as an indicator of our operating performance or as an alternative to cash flow as an indicator of liquidity. EBITDA does not have a standardized definition and our definition of EBITDA may not be identical to or comparable with the EBITDA or Adjusted EBITDA used by other companies.

Adjusted EBITDA comprises EBITDA, and the portion of the investment subsidy booked under current liabilities and recognized in the result as the mandatory investments in R&D relative to said amount are amortized. The calculation of Adjusted EBITDA is not based on accounting principles adopted in Brazil, does not represent cash flow for the periods in question and should not be considered as an alternative to net income as an indicator of our operating performance or as an alternative to cash flow as an indicator of liquidity. Adjusted EBITDA does not have a definition and our definition of Adjusted EBITDA may not be identical to or comparable with the EBITDA or Adjusted EBITDA used by other companies.

Although the EBITDA and Adjusted EBITDA do not provide, according to the Brazilian Accounting Principles (BR GAAP) or the U.S. Accounting Principles (US GAAP), measures of the operational cash flows, Positivo Tecnologia management uses EBITDA and Adjusted EBITDA to measure its operating performance. Additionally, the Company management believes that disclosure of EBITDA and Adjusted EBITDA can provide useful information to investors, financial analysts and the public in their review of the Company’s operating performance and its comparison to the operating performance of other companies in the same industry and other industries.

Note: Having accessed this website and some of its pages, the user will have automatically accepted all the Terms and Conditions here laid down. Therefore, please cease the navigation and public searching of the pages of this website in the event of your not agreeing with all of the above Terms and Conditions.