Terms of Service

Adaptive Investing · Posted October 9, 2026 · Effective October 23, 2026 · Last updated October 9, 2026

1. Agreement to Terms

By accessing or using the Adaptive Investing platform, website, or any associated services (collectively, the "Service"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, do not use the Service.

These Terms constitute a legally binding agreement between you ("User," "you," or "your") and Adaptive Investing ("we," "us," or "our"). Adaptive Investing is a free educational tool operated by an individual based in California, United States; it is not an incorporated company or a registered financial firm.

2. Eligibility and Intended Audience

2.1 Age. You must be at least 18 years of age to use this Service. The Service is not directed to children under 13, and we do not knowingly collect personal information from them. By using the Service, you represent and warrant that:

• You are at least 18 years old
• You have the legal capacity to enter into this agreement
• You are not located in a jurisdiction where the use of this Service is prohibited
• You are not located in, or ordinarily resident in, a country or region subject to comprehensive U.S. sanctions
• You are using this Service for lawful purposes only

2.2 Intended audience. The Service is operated from the United States and is intended only for persons located in the United States. It is not directed at persons in the United Kingdom, the European Economic Area, Canada, Australia, Singapore, or India, and nothing on it is an offer, solicitation, or financial promotion to persons in those places. If you are in the United Kingdom, you must not act or rely on anything on the Service. See the regional notices in our Investment Disclaimer.

2.3 Access restrictions. We may restrict or block access to the Service from certain jurisdictions, including countries and regions subject to comprehensive U.S. sanctions.

3. NOT INVESTMENT ADVICE — CRITICAL DISCLAIMER

ADAPTIVE INVESTING IS AN EDUCATIONAL AND INFORMATIONAL TOOL ONLY. NOTHING ON THIS PLATFORM CONSTITUTES INVESTMENT ADVICE, FINANCIAL ADVICE, TRADING ADVICE, OR ANY OTHER TYPE OF ADVICE.

Specifically:

3.1 No Investment Recommendations. Scores, ratings, analyses, reports, and all other outputs generated by the Service are for informational and educational purposes only. They do not constitute a recommendation to buy, sell, hold, or otherwise transact in any security, financial instrument, or investment product.

3.2 Not a Registered Advisor. Adaptive Investing is not a registered investment advisor, broker-dealer, financial planner, or any other type of licensed financial professional under U.S. federal or state law, or the laws of any other jurisdiction. We are not registered with the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), or any state securities regulator.

3.3 No Fiduciary Duty. We owe no fiduciary duty to you. No user-advisor, broker-client, or similar relationship is created by your use of this Service.

3.4 Past Performance. Any historical data, backtests, scores, or analyses shown on the platform do not guarantee or predict future performance. Past performance is not indicative of future results.

3.5 Market Risk. All investments involve risk, including the possible loss of principal. The value of investments can go down as well as up.

3.6 Independent Verification Required. Before making any investment decision, you should conduct your own independent research and due diligence, and consult with a qualified financial advisor, attorney, accountant, or other licensed professional as appropriate.

3.7 Same Output for Everyone. Scores are identical for every user and are not tailored to any person's circumstances; we do not answer individual investment questions.

4. Description of Service

The Service applies a fixed rubric, the same rubric for every company, to company financial data and public filings and reports the result as a score from 0 to 100. Specifically:

• Live scoring is temporarily paused while we set up properly licensed market data. While it is paused, no new scores are produced or shown.
• When available, every score comes from the same rubric, applied the same way for every visitor. Scores are not personalized and are not tailored to anyone's circumstances.
• Each score is shown with a descriptive band: Strong, Solid, Mixed, Weak, or Poor fit with the rubric. A band describes how a company measures against the rubric; it is not a recommendation to buy, sell, or hold.
• (Planned, not yet available) AI-assisted research and analysis of company fundamentals, market conditions, and publicly available information
• Educational content explaining the rubric and investment-analysis frameworks

When live scoring is available, scores are generated by a deterministic rubric applied to third-party financial data and publicly available information; AI-assisted analysis is planned but is not part of the scoring today. All outputs are automated and algorithmic in nature and are not reviewed or verified by licensed financial professionals before delivery to users.

Hard gates. Today, three deterministic caps can limit a score, however the company measures elsewhere in the rubric: excessive share dilution (share count up more than 25% over three years), high net debt relative to free cash flow (net debt more than five times positive free cash flow), and a negative gross margin. Each one that applies caps the score at a fixed ceiling.

5. Access and Fees

5.1 The Service is currently free. We do not charge fees, process payments, offer subscriptions or paid tiers, or collect payment-card information. There is no billing of any kind at this time.

5.2 Usage limits. To keep the free Service available to everyone, when live scoring is available, scans of a stock you choose are limited to 5 per 24 hours per browser. Any featured demonstration stocks we designate do not count toward this limit. We may adjust these limits at any time to protect the Service from abuse or excessive load.

5.3 Waitlist. You may join a waitlist to be notified about future access or features. Joining the waitlist does not guarantee access; access may be granted at our discretion. The waitlist is hosted on its own page by our newsletter provider, Beehiiv (see our Privacy Policy).

5.4 Future paid features. If we introduce paid features in the future, we will post the applicable pricing and payment terms and update these Terms before any charge applies to you.

6. Acceptable Use

6.1 You agree not to use the Service to:

• Violate any applicable law or regulation
• Infringe the intellectual property rights of any party
• Transmit any false, misleading, or fraudulent information
• Engage in market manipulation or any form of securities fraud
• Present a score, band, or other output of the Service as a personal recommendation, an "analyst rating," or advice from us, or suggest that we endorse any security
• Use scores or other output of the Service to promote, tout, or market any security, including in paid promotions, newsletters, or social-media posts
• Attempt to reverse engineer, decompile, or disassemble any portion of the Service
• Use automated tools (bots, scrapers, crawlers) to access the Service without our written permission
• Resell, redistribute, or sublicense access to the Service without our written permission
• Use the Service in any manner that could disable, overburden, or impair the infrastructure of the Service
• Attempt to gain unauthorized access to any portion of the Service

6.2 Reporting misuse. If you see a score from the Service misrepresented or used to promote a security, please tell us through our Errors & Corrections page.

7. Intellectual Property

7.1 Our Content. All content, features, and functionality of the Service — including but not limited to the scoring rubric, algorithms, software, text, graphics, and design — are owned by or licensed to Adaptive Investing and are protected by U.S. and international intellectual property laws.

7.2 Limited License. We grant you a limited, non-exclusive, non-transferable, revocable license to access and use the Service for your personal, non-commercial purposes, subject to these Terms.

7.3 Restrictions. You may not copy, modify, distribute, sell, or lease any part of the Service, nor may you reverse engineer or attempt to extract the source code of any software, unless applicable laws prohibit these restrictions.

7.4 Third-Party Data. The Service incorporates data from third-party sources, which may include a licensed market-data provider, SEC EDGAR (public filings), Federal Reserve Economic Data (FRED) where macroeconomic data is shown, and others. Such data is subject to those providers' terms and licenses. Our use of a source does not mean that source endorses the Service. We make no representations about the accuracy or completeness of third-party data.

7.5 Your Feedback. If you provide us with feedback, suggestions, or ideas about the Service, you grant us an unlimited, irrevocable, perpetual, royalty-free license to use such feedback for any purpose.

7.6 Copyright Complaints. If you believe material on the Service infringes your copyright, email contact@adaptive-investing.com with: a description of the copyrighted work; where the material appears on the Service; your contact information; a statement that you believe in good faith that the use is not authorized by the copyright owner, its agent, or the law; and a statement that the information in your notice is accurate and that you are the owner or authorized to act for the owner. We will review the notice and remove or disable access to infringing material where appropriate.

8. Data Accuracy and Disclaimers

8.1 No Warranty of Accuracy. The Service is provided "as is" and "as available." We make no representations or warranties of any kind, express or implied, regarding the accuracy, completeness, reliability, or timeliness of any data, scores, analyses, or other content provided through the Service.

8.2 Third-Party Data. Financial data is sourced from third-party providers and may contain errors, omissions, or delays. We are not responsible for any errors in third-party data.

8.3 AI-Generated Content. Scores are currently generated by a deterministic rubric, not by artificial intelligence. We plan to introduce AI-assisted analysis for certain qualitative categories. If and when those features launch, note that AI models can make errors, hallucinate information, or produce outputs that are factually incorrect, and any AI-generated content should be independently verified before reliance.

8.4 Market Data Delays. Market data shown on the Service, if any, is end-of-day or delayed, not real-time. We are not responsible for decisions made based on delayed data.

8.5 System Availability. We do not guarantee uninterrupted access to the Service. The Service may be unavailable due to maintenance, technical issues, or circumstances beyond our control, and we may pause scoring at any time, as we have while we set up licensed market data.

8.6 Errors and Corrections. You can report a data error or score problem through our Errors & Corrections page. We will correct the underlying data or rubric where we can, and may pause scoring for affected securities or entirely while we fix it.

9. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, AND SUBJECT TO SECTION 9.4:

9.1 IN NO EVENT SHALL ADAPTIVE INVESTING, ITS OPERATORS, AGENTS, OR LICENSORS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, LOSS OF DATA, LOSS OF GOODWILL, OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR RELATED TO YOUR USE OF OR INABILITY TO USE THE SERVICE.

9.2 OUR TOTAL CUMULATIVE LIABILITY TO YOU FOR ANY CLAIMS ARISING OUT OF OR RELATED TO THESE TERMS OR THE SERVICE SHALL NOT EXCEED THE GREATER OF (A) THE AMOUNT YOU PAID US, IF ANY, IN THE 12 MONTHS PRECEDING THE CLAIM OR (B) $100.

9.3 THESE LIMITATIONS APPLY REGARDLESS OF THE THEORY OF LIABILITY, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

9.4 What these limits do not cover. Nothing in these Terms excludes or limits liability for fraud, willful injury to the person or property of another, gross negligence, or violation of law, or any other liability that cannot be excluded or limited under applicable law, including California Civil Code section 1668 and the Consumers Legal Remedies Act (California Civil Code section 1750 and following). Nothing in these Terms waives any right you have that cannot be waived by agreement.

Some jurisdictions do not allow the exclusion or limitation of certain damages. In such jurisdictions, our liability is limited to the greatest extent permitted by law.

10. Indemnification

You agree to indemnify, defend, and hold harmless Adaptive Investing and its operators, agents, and licensors from and against claims brought by third parties, and the resulting liabilities, damages, losses, costs, and expenses (including reasonable attorneys' fees), to the extent caused by:

• Your breach of these Terms
• Your misuse of the Service, including presenting its output as a personal recommendation or using it to promote a security

This obligation does not extend to claims to the extent they are caused by our own acts or omissions.

11. Termination

11.1 By You. You may stop using the Service at any time. The Service has no accounts, so there is nothing to close or cancel.

11.2 By Us. We may suspend or terminate your access to the Service at any time, with or without cause, with or without notice, including if we believe you have violated these Terms.

11.3 Effect of Termination. Upon termination, your right to use the Service ceases immediately. Provisions of these Terms that by their nature should survive termination shall survive, including Sections 3, 7, 9, 10, 12, and 13.

12. Governing Law and Dispute Resolution

12.1 Governing Law. These Terms are governed by and construed in accordance with the laws of the State of California and applicable U.S. federal law, without regard to conflict-of-law principles.

12.2 Informal Resolution. Before filing any formal legal proceeding, you agree to attempt to resolve any dispute informally by contacting us at contact@adaptive-investing.com. We will attempt to resolve the dispute within 30 days.

12.3 Venue. Any dispute that cannot be resolved informally shall be brought in the state courts located in Santa Barbara County, California, or in the United States District Court for the Central District of California (the federal district that includes Santa Barbara County), and you and we consent to the personal jurisdiction of those courts. Either party may instead bring an eligible individual claim in small claims court.

13. General Provisions

13.1 Entire Agreement. These Terms, together with our Privacy Policy and any other agreements expressly incorporated by reference, constitute the entire agreement between you and Adaptive Investing regarding the Service.

13.2 Severability. If any provision of these Terms is held to be invalid or unenforceable, that provision shall be modified to the minimum extent necessary, and the remaining provisions shall continue in full force and effect.

13.3 Waiver. Our failure to enforce any right or provision of these Terms shall not constitute a waiver of that right or provision.

13.4 Assignment. You may not assign your rights or obligations under these Terms without our prior written consent. We may assign our rights and obligations without restriction.

13.5 Changes to These Terms. We may change these Terms from time to time. Any change applies only going forward: a revised version never applies to a dispute or claim that arose before the revised version took effect. For a material change, we will post a dated notice on the Service, and email waitlist subscribers where practical, at least 14 days before the change takes effect. The "Last updated" date at the top of this page shows when these Terms last changed. The previous version remains available: Terms of Service last updated June 24, 2026.

13.6 Contact. Questions about these Terms should be directed to: contact@adaptive-investing.com. To report a data error or misuse, see Errors & Corrections; to report a security vulnerability, see our Vulnerability Disclosure Policy.

These Terms of Service were last updated on October 9, 2026 and take effect on October 23, 2026.