Last updated 06/18/2019

ACCOUNTING NOTES

Accounting Method: Stock Circles Inc. (Stock Circles) uses Mark to Market accounting to calculate a daily Net Assets Value (NAV).

Cash Changes: Cash inflows and outflows are accounted for at the end of each day and adjusted based on assets managed by Activefol.io.

Expenses: Fees are included in Daily Returns calculations. Fees are calculated as a percentage of Assets Under Management daily, billed monthly. Final returns may vary based on contract specificities and quarterly adjusted prices. Brokerage fees such as trade commissions and exchange fees may apply.

Time Weighted Returns: We use 'Cumulative Returns' to calculate performance.

Dividends and Corporate Actions: Are calculated once a month.

Daily Update: We update Mark to Market data daily by 12:00 AM ET.

Market Conditions: From February 3rd, 2016 to today, our Investment Products have experienced a variety of market conditions.


DISCLAIMERS & DISCLOSURES

About Activefol.io: Activefol.io runs fully automated Quantitative Strategies. Continuous learnings, market changes, software improvements and/or manual actions may have influenced results. Activefol.io monitors stocks listed on the S&P 500®, Nasdaq 100 and Dow 30 exclusively. Activefol.io's algorithm produces a trading signal called Street Sentiment. Street Sentiment is impersonal and not tailored to any specific individual needs. Stock Circles does not promote the stocks featured in its service, nor does it receives any compensation from Companies whose stocks appear in the service and it has no financial interest in the outcome of any stock trades referenced in its service.

Market Risk: Stocks trading involves substantial risk of loss and is not suitable for everyone. The valuation of stocks may fluctuate, and, as a result, Investors may lose more than their original investment. If the market moves against you, you may sustain a total loss equal to the amount managed, plus fees into your account.

Investment Risk: Invest only risk capital; that is, invest money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations. In no event should the content of this report be construed as an express or implied promise or guarantee.

Suitability: You should not invest unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. If you do not fully understand these risks you must seek independent advice from your Financial Advisor or CPA. Please contact us at info@stockcircles.com

No Guarantee: Actual results are influenced by market conditions and/or service availability and accuracy. Unique experiences and past performance does not guarantee future results.

Usage: Any content featured in this document should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide how best to use the provided material. None of the content published in this report constitutes a recommendation that the above strategy is suitable for any specific person.

PRODUCTS FEATURED ABOVE ARE SIMULATIONS OR LIVE ACCOUNTS THAT RAN UNINTERRUPTED DURING THE REPORTED PERIOD. HYPOTHETICAL OR SIMULATED PERFORMANCE HAVE CERTAIN LIMITATIONS. SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED STRATEGIES, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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