AFS Advisors LLC

Item 5 - Fees and Compensation (continued)

paid, but unearned fees. This is how we calculate pro-rated refunds: 1) we divide
the number of client “invested” days in the quarter by the total number of days in
that quarter and obtain a percentage; 2) we multiply that percentage by an amount
that would represent that quarter’s total billing amount, so that 3) the result equals
the pro-rated fee for that quarter.

D. We do not accept compensation for the sale of securities or other investment
products. We do not accept 12b-1 fees for the marketing and/or distribution of
mutual funds.

E.1. We recommend “no-load” mutual funds to our clients.

E.2. You have the option to purchase investment products that we recommend
through other brokers or agents that are not affiliated with us.

E.3. We do not generate revenue from commissions generated from the sale of
investment products.

E.4. We do not charge commissions or markups.

E.5. We do not charge different fees based on the type of security transacted.

Item 7 - Types of Clients

We provide fee-only advisory services for two types of clients:

       ● Comprehensive investment management services for individuals,
       high net-worth individuals, closely-held corporations and business entities,
       trusts and estates; and
       ● Corporate (i.e., ERISA) consulting services for defined benefit,
       profit sharing plans and 401(k) plans.

                          AFS Advisors, LLC
         1325 Satellite Boulevard, Building 1300, Suite 1301
               Suwanee, GA 30024       (678) 473-0324