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All persons using this Site expressly agree to the following disclaimers as a pre-condition to using this Site and/or agreeing to receive communications associated with this Site for any purpose whatsoever. Continued use of this Site signifies your acceptance of, and agreement to be bound by, each and every one of the following terms and conditions.

The information on this Site is for informational purposes only and is not an offering of or a solicitation to buy securities or otherwise make an investment. Securities may only be offered or sold pursuant to registration of the securities or an exemption therefrom using proper offering documents and disclosures. 

Citrinitas Capital Management LLC and its affiliates (“CCM”) may not be licensed to carry on regulated activities in your jurisdiction and, if not licensed, do not hold themselves out as being able to do so. 

Everything communicated by CCM and agents, regardless of whether it is written, spoken, recorded audio, or video, is intended for educational, entertainment and informational purposes only. All comments are solely the opinion of the presenter. Regardless of whether spoken or written, nothing shall be considered as giving investment, legal or tax advice, or an offer, or solicitation, to buy and/or sell any type of investment products or securities. 

Prior to making any investment, you should consult with a professional financial advisor, legal and tax advisor to assist in due diligence as may be appropriate and determining the appropriateness of the risk associated with a particular investment.

All information, including ideas, data, charts, models, opinions and analysis of any kind, in this publication is provided "as is", with no guarantee of completeness, accuracy, timeliness or results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. CCM uses public, private and internal sources of data and information. While we consider external information and data to be reliable, we do not assume responsibility for its accuracy. 

The sketches, renderings, graphics materials, plans, specifications, terms, conditions, and statements contained in this Site are proposed only, and CCM reserves the right to modify, revise or withdraw any or all of the same in its sole discretion and without prior notice. 

CCM assumes no responsibility for errors, inaccuracies, misinformation or omissions in the contents of this publication. Past performance of any kind is not a guarantee of future results. This publication and all opinions, projections and estimates therein constitute the judgment of the author as of the date of publication and are subject to change without notice. CCM is under no obligation to update this information. You should therefore assume that CCM will not update any fact, circumstance or opinion contained herein. Furthermore, CCM reserves the right to make additions, deletions, or modifications to any publication, chart or model at any time without notice, advance or otherwise.

The views expressed reflect the personal views of the members of CCM’s Strategy Team and do not necessarily reflect the views of CCM. Views expressed are as of the date hereof and CCM does not undertake to advise you of any changes in the views expressed herein. Opinions or statements regarding financial market trends are based on current market conditions and are subject to change without notice. 

References to a target portfolio and allocations of such a portfolio refer to a hypothetical allocation of assets and not an actual portfolio. The information provided herein is not intended to provide a sufficient basis on which to make an investment decision and investment decisions should not be based on simulated, hypothetical or illustrative information that have inherent limitations. Unlike an actual performance record, simulated or hypothetical results do not represent actual trading or the actual costs of management and may have under or over compensated for the impact of certain market risk factors. CCM makes no representation that any account will or is likely to achieve returns similar to those shown.

Articles on the site (“Reports”) are provided to subscribers “as-is” and CCM does make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in the reports and nothing contained herein shall be relied upon as a promise or representation whether as to the past or future performance. The information contained herein should not be relied solely upon by any party in connection with any investment in any fund or investment vehicle managed by CCM. Certain factual information contained herein has been obtained from third-party sources. It has not been independently verified by CCM and although CCM believes it to be reliable, CCM makes no representation as to its accuracy or completeness.

The investments described herein involve a high degree of risk, including the loss of principal investment. There can be no assurance that investment objectives will be achieved or that investors will receive a return of their capital. In addition, investment results may vary substantially on a monthly, quarterly or annual basis. CCM and its affiliates also may have potential conflicts of interest, including that some of CCM’s Members, managers and/or employees of CCM may have existing long or short positions in the securities mentioned herein and may purchase or sell such securities without notice in the future. No assurance can be given that any risk management framework described herein will achieve its objective.

CCM is aware that the implementation of the ideas expressed in these reports, articles and posts may depend upon an investor's ability to "short" securities or other financial instruments and that such action may be limited by regulations prohibiting or restricting "shortselling" in many jurisdictions. Investors are urged to seek advice regarding the applicability of such regulations prior to executing any short idea contained in these reports, articles and posts.

Foreign currency rates of exchange may adversely affect the value, price or income of any security or financial instrument mentioned herein. Investors in such securities and instruments, including ADRs, effectively assume currency risk.

Any information relating to the tax status of financial instruments discussed herein is not intended to provide tax advice or to be used by anyone to provide tax advice. Investors are urged to seek tax advice based on their particular circumstances from an independent tax professional.

CCM will not be liable to anyone for any decision made or any action taken in reliance on the information provided by this publication or for any consequential, special or similar damages, even if advised of the possibility of such damages. In no event shall CCM be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of any CCM publication, chart, model, data, analysis, idea, opinion or content of any kind.

No part of these reports, articles and posts (“content”) may be used or reproduced in any manner by any person without the express written consent of an authorized officer of CCM. Any content provided to clients by CCM is proprietary and confidential and may not be copied, quoted, referenced, or distributed in any format without the express written approval of an authorized officer of Citrinitas Capital Management. Any violation of the foregoing may result in material harm to CCM. All information is distributed through CCM owned websites and other portals, such as Substack. 

Receipt and review of this information constitutes your agreement not to redistribute, retransmit, or disclose to others the contents, opinions, conclusion, or information contained herein without first obtaining express permission from an authorized officer of CCM.

The content  is intended solely for informational purposes. It is not investment advice and should not be considered to be a recommendation to buy or sell any types of securities or investments or as an indication that any security listed in the content is suitable for a particular person. Any such offering would be made only to accredited investors and only by a term sheet, confidential private placement memorandum or similar offering document (“Offering Documents”). Before making an investment decision with respect to any private fund, potential investors need to carefully read the Offering Documents, and also consult with their tax, legal and financial advisors.

This content contains statements and information that is not purely historical in nature. These include, among other things, assumptions, expectations, intentions and beliefs about future events. All of these statements and information are intended as “forward-looking statements”. These forward-looking statements are identified by their use of the terms and phrases, such as “believe,” “may,” “should,” “intend,” “expect,” “anticipate,” “project,” “estimate,” “predict,” “scheduled,” and similar expressions and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those described.

This information has been prepared independently of any issuer of securities mentioned herein and not in connection with any proposed offering of securities or as agent of any issuer of any securities. To the best of CCM’s knowledge, materials  prepared by CCM personnel are based on public information. Facts and views presented in this material have not been reviewed by, and may not reflect information known to, professionals in other business areas of CCM.

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