Disclosures | blacklightgo

Legal Disclosures

Last Updated: December 1, 2025

THESE ARE IMPORTANT LEGAL DISCLOSURES THAT ALL USERS OF BLACKLIGHT’S WEBSITE SHOULD READ.

1. General Nature of Blacklight’s Publications

Blacklight Research, LLC (“Blacklight”) is a publisher and media company, not an investment adviser. All materials made available by Blacklight—whether through this website, email distribution, or any other electronic or physical medium—are created and disseminated solely for general informational and educational purposes. Such materials are impersonal in nature, do not take into account the objectives, financial situation, or needs of any specific company, institution, or individual, and do not constitute investment advice, personalized recommendations, or the solicitation or offer to buy or sell any security, futures contract, or financial instrument.

No fiduciary relationship, advisory relationship, or other form of client relationship is created through access to, or use of, Blacklight’s materials. Blacklight does not provide advice regarding the suitability, profitability, or appropriateness of any investment strategy, instrument, or transaction.

2. No Offer, Solicitation, or Recommendation

All content published by Blacklight is for informational purposes only. Nothing herein should be construed as:

a recommendation, endorsement, or opinion regarding the value or advisability of any specific security, portfolio, strategy, or investment action;
an offer to sell or solicitation of an offer to buy any security or financial instrument; or
a solicitation or marketing of any issuer or its products, services, or securities in any jurisdiction.

Recipients must form their own independent judgment concerning any investment or trading decision and should consult with qualified financial, legal, tax, or other professional advisers as they deem appropriate.

3. Sources, Accuracy, and Forward-Looking Statements

The information, opinions, and views contained in Blacklight materials are derived from publicly available and third-party sources believed to be reliable. Although reasonable care is taken in the preparation of such materials, Blacklight makes no warranty or representation, express or implied, regarding their accuracy, completeness, timeliness, reliability, or fitness for any particular purpose.

Blacklight’s materials may contain forward-looking statements, including opinions, estimates, projections, forecasts, or expectations regarding future events or performance. These statements are inherently subject to uncertainties, assumptions, and risks—many of which are beyond Blacklight’s control—and actual results may differ materially from those expressed or implied. Forward-looking statements reflect Blacklight’s views only as of the date of publication and are subject to change without notice. Blacklight undertakes no obligation to update, revise, or supplement any publication.

No reader should rely on any information or opinion contained herein as being accurate, fair, complete, or current at any time after the date of publication.

4. Market Data, Valuations, and Performance

Unless otherwise stated, all market prices, data, and valuations are indicative and reflect conditions as of the most recent closing date prior to publication. All such information is subject to change without notice.

Investment values may fluctuate, and investors may receive returns that are lower than historical results or may lose principal. Changes in market conditions, interest rates, exchange rates, geopolitical developments, policy decisions, technological risks, and other factors—whether known or unknown—may materially affect the value or performance of any referenced security or strategy. Past performance is not indicative of future results.

5. Complex Instruments and Suitability

Some Blacklight materials may reference options, futures, structured instruments, derivatives, or other complex financial products. These instruments may involve a high degree of risk and may be suitable only for sophisticated investors who fully understand and are capable of bearing the associated risks. Blacklight does not opine on the suitability of any investment for any individual or entity.

Users remain solely responsible for evaluating the merits and risks of any financial decision and for seeking independent professional advice when appropriate.

6. Potential Conflicts of Interest

Blacklight's personnel, affiliates, contractors, or clients may from time to time hold positions in, or trade in, securities or instruments mentioned in Blacklight publications. Views expressed in Blacklight materials may differ from, or be inconsistent with, those of other Blacklight personnel or affiliates who are not involved in the preparation of such materials.

Blacklight maintains internal policies and a Code of Ethics intended to identify, mitigate, and manage potential conflicts of interest, including with respect to personal trading and the handling of non-public information. These measures, however, do not eliminate the possibility of actual or perceived conflicts.

7. Distribution, Delivery, and Compensation

Blacklight’s materials may be distributed electronically (including via email or through secure website access). Delivery times may vary for reasons outside Blacklight’s control. The creators of Blacklight materials may receive compensation based on factors such as content quality, client feedback, overall firm revenue, and competitive considerations, but not based on the profitability or performance of any securities or strategies discussed.

Artwork, charts, and images used in Blacklight materials may include licensed content, public-domain materials, and Blacklight intellectual property.

8. Website Use, Security, and Viruses

This website and any linked content are provided on an “as is” and “as available” basis without warranties of any kind. Blacklight does not represent or warrant that the website or its content will be free from interruption, error, defect, malware, or other harmful components. Users are solely responsible for ensuring that their access systems are secure and virus-free.

To the extent site content is made available to authorized users, any unauthorized access, review, disclosure, copying, distribution, reliance upon, or use of such content is strictly prohibited.

Blacklight and its affiliates accept no responsibility or liability for any loss or damage arising from use of, or inability to use, the website or any linked materials.

9. Limitation of Liability

To the fullest extent permitted by applicable law, Blacklight and its directors, officers, employees, contractors, and affiliates disclaim all liability for any direct, indirect, incidental, consequential, or other losses or damages arising out of or connected with:

the use of, reliance on, or inability to use any Blacklight material;
any errors, inaccuracies, or omissions in Blacklight content;
any delays in delivery or website access; or
any actions taken or decisions made by readers or third parties.

Nothing in these disclosures limits or excludes any liability that cannot be disclaimed under applicable law or regulatory authority.

10. Jurisdiction and Legal Compliance

Blacklight’s materials are intended solely for distribution in jurisdictions where such distribution is lawful and permitted. Users are responsible for ensuring that accessing Blacklight content does not violate the laws or regulations of their relevant jurisdiction.

11. Intellectual Property and Restrictions on Use

All content published by Blacklight—including text, data, analysis, images, graphics, and other materials—is the copyrighted property of Blacklight Research, LLC, unless otherwise noted.

No portion of Blacklight materials may be reproduced, resold, redistributed, published, or transmitted in any form without Blacklight’s prior written consent. It is strictly prohibited to upload, distribute, or otherwise provide Blacklight’s materials to any third-party artificial intelligence (AI) system, machine-learning model, or automated tool without explicit prior written consent from Blacklight.