Terms of Service

1. Who these terms apply to

These Terms of Service ("Terms") govern your use of the Volaren website ("Service") operated by Volaren ("we", "us"). By requesting access, registering for an account, subscribing to a paid plan, or otherwise using the Service, you agree to be bound by these Terms. If you do not agree, do not use the Service.

2. Accounts and access

You must be at least 18 years old to use the Service. You are responsible for:

• Providing accurate, current information when you request access
• Keeping your password and 2FA credentials confidential
• All activity that occurs under your account
• Immediately notifying us of unauthorized access to your account

Shared accounts are not permitted. Each person must use their own login.

Access to the Service is by approval only. Submitting a registration request does not guarantee access. We review each request manually and reserve the right to deny or revoke access at any time without obligation to provide a reason. Approved users receive an email with a link to sign in.

3. Volaren is an information platform — not a financial advisor

This is the most important section. Please read it carefully.

What Volaren is. Volaren is an information and analysis platform. It aggregates publicly available financial data, applies quantitative modeling frameworks (discounted cash flow, comparable company analysis, scenario modeling), and uses AI to generate written summaries and analyses — all for the purpose of helping you conduct your own independent research. It is a tool, not an advisor.

What Volaren is not. Volaren is not a registered investment advisor under the Investment Advisers Act of 1940 or any equivalent law in any jurisdiction. It is not a broker-dealer, a registered representative, a commodity trading advisor, a financial planner, a licensed securities analyst, or any other type of regulated financial professional. It is not registered with, nor endorsed or approved by, the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), FINRA, or any other financial regulatory authority.

Outputs are not advice. All content, analysis, models, memos, valuations, scores, and other outputs generated by the Service ("Outputs") are provided for informational and educational purposes only. Outputs do not constitute:

• Investment advice or personalized investment recommendations
• Financial, legal, tax, or accounting advice
• An offer or solicitation to buy or sell any security, commodity, or financial instrument
• A recommendation regarding any specific investment strategy
• An endorsement of any company, security, or investment product

You are the decision-maker. Every investment decision you make is your own. You must not make any investment decision based solely or primarily on any Output. Before acting on any Output, you should consult a qualified and licensed financial advisor, attorney, or other professional who can evaluate your specific situation and objectives.

Past performance referenced in any Output does not guarantee or predict future results. All investments involve risk, including the possible loss of principal. Outputs do not take into account your personal financial situation, investment objectives, risk tolerance, or time horizon.

4. Beta software and accuracy

The Service is currently provided as beta software for testing purposes only. By using the Service, you acknowledge and agree that:

• Outputs may contain errors, omissions, hallucinations, or inaccuracies
• Outputs are generated by AI systems and have not been independently verified
• Underlying data sources may be incomplete, outdated, or incorrect
• The Service may be unavailable, slow, or produce degraded results at any time
• Features may change or be removed without notice during the beta period

You are solely responsible for independently verifying any Output before relying on it for any purpose, professional or otherwise.

5. Acceptable use

You agree not to:

• Violate any applicable law, regulation, or third-party right
• Use the Service in connection with any fraudulent, illegal, or manipulative securities activity
• Upload material non-public information (MNPI) or other insider information
• Upload malware, viruses, or any code designed to disrupt the Service
• Attempt to gain unauthorized access to other accounts or our infrastructure
• Reverse-engineer, scrape, or otherwise extract data from the Service outside of documented APIs
• Use the Service to spam, harass, or defraud any person
• Resell or sublicense the Service without written agreement
• Probe, stress-test, or systematically abuse the API in ways that degrade service for other users

Security researchers acting in good faith under our disclosure policy are exempt from the unauthorized-access clause.

6. Your content

You retain ownership of all data you create through the Service ("Your Content"), including portfolio positions, watchlists, thesis notes, custom alerts, and any annotations you save. By using the Service, you grant us a limited, non-exclusive license to process Your Content solely to provide the Service to you. We do not claim any intellectual property rights over Your Content. We do not use Your Content to train third-party AI models.

6.1 Investor Pulse — anonymized aggregation

Volaren operates a feature called Investor Pulse that aggregates specific elements of Your Content — namely your valuation assumption overrides (revenue growth, EBITDA margin, capex, terminal growth, exit multiple, WACC and related drivers), your scenario weights, your peer-set selections, your written thesis text, your premises, your conviction levels, and the implied prices that result from your model — across all opted-in users to produce anonymized statistics, medians, percentile bands, synthetic "crowd consensus" models, and performance leaderboards on a per-ticker basis.

By creating an account you opt in to Investor Pulse and grant Volaren a perpetual, non-exclusive, irrevocable (subject to the deletion right below) license to aggregate, summarize, and present Your Content in anonymized form to other opted-in users and to use it internally to build, improve, and research the Service and the underlying valuation methodology. Your real name, email, and account identity are never exposed on Investor Pulse — your contributions are tied to a pseudonymous alias (e.g. "analyst_8af2c1") that is not linkable to your account by other users. K-anonymity protections hide aggregate numbers entirely when fewer than five users have contributed data on a given ticker.

You can opt out at any time in Settings → Privacy. Opting out (a) removes your data from future aggregates going forward, (b) removes your access to Investor Pulse (the exchange is symmetric — opting out cannot leave you a free rider on other users' contributions), and (c) does not by itself delete past contributions. To delete all past contributions, use the "Delete all my Pulse data" button in Settings → Privacy, which wipes every row attributable to your account from every Pulse-relevant table.

You may also exclude specific tickers from your contribution without opting out globally — for example, if you want to share your thesis on tech names but keep your view on a particular small-cap private. Per-ticker exclusions are managed in Settings → Privacy.

Investor Pulse contributions are not personally identifiable information under applicable US law once aggregated and aliased. If you reside in a jurisdiction with stricter rules (e.g. EU/UK GDPR), please contact us at the address in Section 16 — opt-in for users in those jurisdictions is handled separately and with explicit consent.

7. Brokerage connections

The Service allows you to connect a brokerage account via a third-party aggregation provider (SnapTrade). By connecting your account, you authorize us to retrieve your account holdings and balances on a read-only basis. We do not execute trades, move funds, or take any action in your brokerage account. You can disconnect your brokerage account at any time.

Connected brokerage data is displayed for informational purposes only and is subject to the same disclaimer in Section 3: it does not constitute financial advice and must not be the sole or primary basis for any investment decision.

8. Plans and billing

Some features of the Service require a paid subscription. All payments are processed by Stripe; you agree to their Services Agreement when you provide payment information.

Subscriptions renew automatically. You may cancel at any time; cancellation takes effect at the end of the current billing period. We do not provide prorated refunds for partial months except where required by law.

We may change pricing with at least 30 days' notice. Changes apply to renewals after the notice period.

9. Availability and changes

We aim for high availability but do not guarantee uninterrupted service. We may modify or discontinue features with reasonable notice; if we discontinue the Service entirely, we will provide at least 60 days' notice and enable data export.

10. Termination

You may close your account at any time from /stocks/settings. We may suspend or terminate accounts that violate these Terms or that are inactive for extended periods (we'll email first). Upon termination, the license granted in Section 6 ends and we will delete Your Content according to our Privacy Policy.

11. Disclaimers

The service is provided "as is" and "as available" without warranties of any kind, whether express or implied, including warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy, or availability. We make no warranty that outputs will be accurate, complete, reliable, or suitable for any particular purpose. Use of the service and reliance on any output is at your sole risk.

12. Limitation of liability

To the maximum extent permitted by law, our total liability arising out of or in connection with the service is limited to the amount you paid us in the 12 months preceding the event giving rise to the claim, or USD $100, whichever is greater. We are not liable for indirect, incidental, special, consequential, or punitive damages, including but not limited to any investment losses, trading losses, or financial damages arising from reliance on any output.

13. Indemnification

You agree to indemnify and hold us harmless from any claim, liability, or expense arising out of (a) Your Content, (b) your breach of these Terms, (c) your violation of any law or third-party right, or (d) any investment or financial decision you make based on any Output from the Service.

14. Governing law

These Terms are governed by the laws of the State of Delaware, United States, without regard to conflict-of-law principles. Any dispute will be resolved in the state or federal courts located in Delaware, unless binding arbitration is required by applicable law.

15. Changes to these terms

We may update these Terms. Material changes will be announced by email to registered users at least 30 days in advance. Your continued use of the Service after the change takes effect constitutes acceptance of the new Terms.

16. Contact

All inquiries (legal, terms, general support): support@volaren.ai
Security issues: support@volaren.ai