Disclaimer

Scrutar is a research tool. It reads public company filings and presents figures, analysis and AI-generated content to help you do your own research. It is not advice, and nothing it shows you is guaranteed to be correct. This page explains how to read what Scrutar gives you. The binding terms, including the limits on our liability, are in the Terms of Service, which govern if the two differ.

1. Not Financial Advice

Scrutar does not provide financial, investment, tax, legal or other professional advice. All data, analysis, summaries, scores and other content are for informational and educational purposes only. Nothing on the platform is a recommendation or solicitation to buy, sell or hold any security, financial product or investment strategy.

Consult a qualified financial advisor, accountant or other licensed professional before making any investment decision. Scrutar is not a registered broker-dealer, investment advisor or financial planner, and using it does not create a fiduciary relationship. Scrutar is not affiliated with, endorsed by or connected to the U.S. Securities and Exchange Commission.

2. AI-Generated Content

Scrutar uses artificial intelligence and large language models to process SEC filings and generate analytical content. AI-generated content may contain errors, inaccuracies, hallucinations or omissions.

In particular:

• Figures extracted from filings by AI (as opposed to the company's own XBRL data, see section 3) may be incorrectly parsed, misattributed or incomplete.
• Summaries, guidance interpretations, sentiment analysis, disclosure assessments and risk analyses may misrepresent or oversimplify the original filing.
• Red flag detections and risk scores are algorithmic assessments, not determinations of fraud, misconduct or material risk.
• Peer selection, relationship mapping and trend analyses are approximate and may miss context that the filing provides.
• Answers from Ask Scrutar and other conversational features are generated by language models and may be incorrect, incomplete or misleading, including plausible-sounding statements that are simply wrong.

Where Scrutar cites the filing and the passage a finding came from, the citation is there so you can check the finding against the source. A citation does not make the finding correct: the passage may have been misread, and figures verified against the source can still be presented in a misleading context. Check anything you intend to rely on.

3. Figures, Scores and Estimates

• Financial history is taken from each company's own XBRL data as filed with the SEC. Figures are shown as reported and are not restated for later corrections. Per-share figures and share counts are not adjusted for stock splits; only growth rates are.
• Ratios and growth rates are computed from those reported figures. A dash means the figure could not be computed meaningfully, not that it is zero.
• Forensic scores (Piotroski F-score, Altman Z-score and Beneish M-score) are published academic formulas applied mechanically to reported figures. They are withheld when an input is missing, and they are screening tools, not conclusions about any company.
• Insider, institutional and activist holdings are read from the forms filed with the SEC and reflect what was filed, which can be late, amended or incomplete.
• Estimated earnings dates are inferred from a company's past filing pattern. They are estimates, not dates announced by the company.
• Subsidiary lists, compensation tables and board details are read from filings by AI and checked against the filing text where possible. Open the filing before relying on any single entry.

4. Data Sources and Coverage

Scrutar sources data from publicly available SEC filings through the EDGAR system and other public datasets. We do not guarantee the completeness, accuracy, reliability or timeliness of any data presented. Filings may be delayed, amended or incomplete, and errors can be introduced during automated processing. Coverage is limited to the companies and filing types we support, and the same caveats apply to the free public pages as to the application.

You are responsible for verifying any data or analysis obtained through Scrutar against the original filings on the SEC's EDGAR system or other authoritative sources before relying on it for any purpose.

5. Third-Party AI Providers

Scrutar uses third-party AI services to process and analyse filing data. These providers have their own terms and limitations. We do not control the outputs of their models and cannot guarantee their accuracy, and their use does not imply that they endorse any generated content.

6. Past Performance

Historical data, trends and performance figures shown in Scrutar describe the past and do not guarantee future results. Past performance of any security or market is not indicative of future performance.

7. No Warranty and Limitation of Liability

Scrutar is provided "as is" and "as available", without warranties of any kind. The disclaimer of warranties and the limitation of our liability, including for financial losses from investment decisions made using information obtained through Scrutar, are set out in sections 13 and 14 of the Terms of Service.

8. Contact

Questions about this disclaimer go to support@scrutar.com, or through the feedback feature in the application.