Risk Disclosures

Securities Trading Risk

Trading stocks, ETFs, and other securities involves substantial risk of loss and is not suitable for every investor. The value of securities can fluctuate significantly, and you may lose some or all of your invested capital. Past performance of a security, index, or strategy does not guarantee future results.

Not Investment Advice

SAN7 does not provide investment advice, recommendations, or solicitations. All information displayed in the App—including market data, analytics, charts, watchlists, and performance metrics—is provided for informational and educational purposes only. You should not construe any such information as investment, tax, legal, or financial advice.

Before making any investment decision, you should:

• Conduct your own research and due diligence.
• Consider consulting a qualified financial professional.
• Understand your risk tolerance and investment objectives.
• Review the risks specific to any security you consider trading.

AI Reflections and Insights Are Not Advice

The Memory Core’s AI reflections, "Ask the Core" answers, the reason scoreboard, the "The Other You" counterfactual, and all analytics are a backward-looking, educational analysis of the data in your own journal. They are not investment advice, recommendations, predictions, or trading signals, and you must not act on them as such.

• AI output can be inaccurate, incomplete, biased, or entirely fabricated ("hallucinated"). It may misread your data or draw unfounded conclusions.
• Insights describe what your past trades did; they do not tell you what any security will do, or what you should do next.
• Patterns found in a small or unrepresentative sample of trades can be coincidental and may not persist.
• Always apply your own judgment and verify anything important before relying on it. You are solely responsible for decisions you make, and SAN7 is not liable for any outcome based on AI or analytics output.

Extended Hours Trading Risk

SAN7 supports extended-hours (pre-market and after-hours) order placement through Alpaca. Extended-hours trading involves additional risks:

• Lower liquidity: Fewer market participants may result in wider spreads and difficulty executing orders at desired prices.
• Higher volatility: Prices can move more dramatically outside regular market hours.
• Price disconnects: Extended-hours prices may not reflect prices during regular trading sessions.
• Limited order types: Only limit orders are accepted during extended hours.

Order Execution Risk

• SAN7 transmits orders to Alpaca but does not guarantee execution. Orders may be rejected, delayed, or executed at prices different from those displayed in the App.
• The auto-adjustment feature for pre-market orders is a convenience tool that attempts to repost limit orders within tight bands. It may cancel orders if prices drift beyond configured thresholds. It does not guarantee fills or price improvement.
• Market data displayed in SAN7 may be delayed or differ from the prices at which Alpaca executes your orders.

Data Accuracy and Timeliness

• Market data is sourced from third-party providers (Yahoo Finance, Stooq, Alpaca) and may be delayed, inaccurate, or incomplete.
• During periods of high market volatility or after hours, data may not be available or may be stale.
• Portfolio valuations and analytics are computed from available data and may differ from your broker’s official records.
• Do not rely solely on SAN7 for trading decisions. Verify critical information through your broker directly.

Paper Trading vs. Live Trading

• Paper trading (simulated) does not involve real money and does not replicate all aspects of live trading, including but not limited to liquidity constraints, market impact, and psychological factors.
• Results achieved in paper trading are not indicative of results attainable in live trading.
• Ensure you have selected the correct Alpaca environment (paper vs. live) before placing any order.

Technology Risk

• SAN7 relies on your device, internet connectivity, and third-party APIs. Service interruptions, bugs, or network failures may prevent you from placing, modifying, or canceling orders.
• SAN7 is provided "as is." We do not guarantee uninterrupted or error-free operation.

Acknowledgment

By using SAN7 for trading, you acknowledge that you have read and understood these risk disclosures and accept full responsibility for your trading decisions and their outcomes.