Disclosures · Version 1.1

Disclosures

Last revised on: September 7, 2026

YieldDesk (the “Site”) is operated by Roar Ventures LLC (“Company”, “we”, “us”). These disclosures set out important information about the nature of the research and tools provided through the Site, the data we rely on, and the risks of the investments we cover. Read them carefully before acting on anything you see on the Site.

YIELDDESK IS A RESEARCH AND EDUCATIONAL PLATFORM. IT IS NOT A REGISTERED INVESTMENT ADVISER, BROKER-DEALER, OR FIDUCIARY. NOTHING ON THE SITE IS A RECOMMENDATION OR SOLICITATION TO BUY, SELL, OR HOLD ANY SECURITY. YOU ARE SOLELY RESPONSIBLE FOR YOUR INVESTMENT DECISIONS.

Platform Disclaimer & Legal Notices

YieldDesk is an automated financial analysis technology platform and software utility provided for educational, informational, and self-directed analytical purposes only. YieldDesk is not a registered investment adviser, a broker-dealer, or a financial planner, and does not provide personalized investment, legal, tax, or accounting advice.

All data, metrics, calculations and quantitative models, including the Income Quality Score (IQS), yield-to-call equations, tax calculations and rate-sensitivity tables, are rule-based, programmatic outputs generated from third-party vendor feeds. These metrics reflect historical performance or mathematical hypotheses based on specific macroeconomic assumptions and do not constitute a recommendation, endorsement, or offer to buy or sell any security. Past performance is no guarantee of future results. Investment structures discussed on this platform, including preferred stocks, business development companies (BDCs) and covered-call ETFs, carry a high degree of structural, credit, duration, and liquidity risk, including the potential loss of principal.

Users retain sole responsibility for evaluating the merits, compliance, and suitability of any transaction before executing a trade. The tax data and equations provided within the Tax Center are high-level approximations and should not substitute for professional review by a certified CPA or tax counsel.

1. Not Investment, Tax, or Legal Advice

All content on the Site, including the Income Quality Score (“IQS”), watchlists, holdings projections, calendar projections, articles, newsletters and alerts, is provided for informational and educational purposes only. It is not personalized investment advice, financial planning, tax advice, or legal advice. Before making any investment decision, consult a licensed professional who can evaluate your individual circumstances, objectives, and risk tolerance.

2. No Fiduciary Relationship

Use of the Site does not create a fiduciary, advisory, or brokerage relationship between you and Company. We do not custody assets, place trades, or manage accounts. The tools provided are decision-support tools and not substitutes for professional advice.

3. Data Sources and Accuracy

3.1 Market data and quotes.

Price quotes, dividends, and corporate-action data shown on the Site are provided by licensed third-party data vendors. Quotes are typically delayed at least 15 minutes and should not be relied on for real-time trading. We use commercially reasonable efforts to confirm accuracy but make no guarantee that any data point is current, complete, or free from error.

3.2 Reference data.

Issuer information, structure (e.g., cumulative vs. non-cumulative), call dates, and dividend frequency are sourced from issuer filings, prospectuses, and third-party databases. Source documents can be ambiguous or inconsistent; we may make reasonable interpretations and these may change as new information becomes available.

3.3 No warranty of accuracy.

We provide all data and content on an “as-is” basis and disclaim warranties of accuracy, completeness, timeliness, and merchantability to the maximum extent permitted by law. Always verify critical facts directly with issuer filings, prospectuses, and your broker before transacting.

4. Methodology and the Income Quality Score (IQS)

4.1 What IQS is.

IQS is a proprietary 0–10 composite score that summarizes our view of an issue’s income quality across several measures (for preferreds: coverage, credit, buyback economics, structure and protection; BDCs, covered-call ETFs and preferred ETFs have their own measures). The exact rule set and weights are maintained by Company and may be updated. IQS is currently a beta measure: the method is published and in use, but its weights and thresholds are still being calibrated, and scores may be restated as that calibration continues.

4.2 What IQS is not.

IQS is not a credit rating, a price target, or a forecast of future returns. It is not investment advice and not a recommendation to buy, sell, or hold any security. It does not account for your tax situation, holding period, account type, or portfolio context. A high IQS does not mean an issue will pay its distribution; a low IQS does not mean it will not. Methodology changes can move scores up or down without any change in the underlying security.

4.3 Alerts and holdings.

The IQS does not drive notifications. Alerts fire on observable events at an issue: a price level you set, a declared distribution, a call window opening, an insider filing, a cross of par. They never fire on a movement in the IQS itself. The IQS is computed per security, identically for every user. Where you scope a view to securities you hold or watch, the selection is yours; the score attached to each issue is the same figure shown everywhere else, and it is never used to rank, filter, or flag the positions you hold.

4.4 Projections.

Income projections in Holdings, Calendar, and other tools assume current declared rates continue at each issue’s normal pay frequency. Projections do not adjust for redemptions, suspensions, rate resets, dividend cuts, or position changes. Actual income will differ.

5. Risks of Preferred Stock, Baby Bonds, BDCs and Covered-Call ETFs

Preferred stock, exchange-traded debt (“baby bonds”), business development companies and covered-call ETFs carry meaningful risks, including but not limited to:

Call risk. Issues may be called at par before stated maturity, capping upside.
Credit risk. Distributions can be deferred, suspended, or non-cumulative; issuers can default.
Interest-rate risk. Long-duration fixed-rate issues can fall sharply when rates rise.
Liquidity risk. Many issues trade thinly with wide bid-ask spreads.
Tax treatment. Distributions may be qualified dividends, ordinary income, interest, or return of capital; tax treatment varies by issue and account type.
BDC risk. Distributions depend on net investment income; leverage and non-accruals can force cuts, and shares can trade well below net asset value.
Covered-call distributions. A high distribution yield does not equal high total return. Distributions may include option premium, dividends, or return of capital. Funds with high overwrite percentages may give up most upside in strong markets.

Past performance is not indicative of future results. You can lose part or all of your principal.

6. Forward-Looking Statements

The Site may include forward-looking statements about issuers, sectors, or market conditions. These statements involve assumptions and uncertainties and are not guarantees of future performance. Actual results may differ materially.

7. Conflicts of Interest

7.1 Personal positions.

Company personnel, including the founder, may personally hold positions in securities discussed on the Site. We do not currently maintain a public trading-blackout policy for staff. We do not receive compensation from issuers in exchange for coverage, ratings, or favorable IQS scores.

7.2 Affiliate and referral relationships.

Where we link to third-party tools, brokers, or data providers and receive referral consideration, we will identify the relationship clearly on the page where the link appears. We do not make coverage decisions based on referral relationships.

7.3 Advertising.

The Site does not display advertising, and there are no advertisers in YieldDesk products.

8. Subscription Tiers and Feature Availability

Some features are available only to subscribers on specific plans (Starter, Plus, Elite). Feature availability, content depth, and refresh frequency can change over time. We will give reasonable notice before reducing the features materially relied on by existing paid subscribers within their current term.

9. No Solicitation in Restricted Jurisdictions

Nothing on the Site is an offer or solicitation to anyone in any jurisdiction where such offer or solicitation would be unlawful. The Site is intended for users in the United States. If you access the Site from outside the United States, you are responsible for compliance with local laws.

10. Backtests and Historical Examples

Historical examples, screenshots, and case studies on the Site are illustrative. They may use selected dates and securities and may not reflect transaction costs, taxes, or execution slippage. Hypothetical or backtested results have inherent limitations and should not be relied on as indicative of future returns.

11. Updates and Errata

We may correct errors and update content without notice. Where a correction materially changes a previously published view, we will indicate the change inline or in release notes.

12. Contact Us

For questions about these disclosures, the IQS methodology, or any content on the Site, contact us at:

Roar Ventures LLC
55 Union Place, #265
Summit, New Jersey 07901
Email: info@yielddesk.co