Terms of Use

The Service extracts, structures, and displays concentration-of-risk disclosures (customer, geographic, supplier, product, and credit) from public filings on SEC EDGAR, together with derived presentations such as trend charts, screeners, composite risk levels, and alerts. A limited preview is available without an account; a free account provides access to the full covered universe. We may change, add, or remove features at any time.

You must be at least 18 years old and capable of forming a binding contract to use the Service. If you use the Service on behalf of an organization, you represent that you are authorized to bind that organization to these Terms, and "you" includes the organization.

The Service is a publisher of general, impersonal research derived from public filings. Nothing on the Service constitutes investment, financial, legal, tax, or accounting advice, an offer or solicitation to buy or sell any security, or a recommendation regarding any issuer, strategy, or transaction. Content is not tailored to your circumstances, objectives, or risk tolerance, and no content should be understood as a statement about the suitability of any investment for you.

We are not a broker-dealer, investment adviser, or fiduciary; we operate as a publisher of general circulation, and no advisory, fiduciary, or professional relationship is created by your use of the Service. Composite levels ("High", "Medium", "Low") and similar derived indicators reflect our editorial methodology applied to disclosed figures — they are not credit ratings, price targets, or predictions of any outcome. A high or low concentration reading is not a signal that any security will rise or fall.

YOU ARE SOLELY RESPONSIBLE FOR YOUR INVESTMENT DECISIONS. BEFORE ACTING ON ANY INFORMATION FOUND ON THE SERVICE, VERIFY IT AGAINST THE ORIGINAL SEC FILING AND CONSULT A QUALIFIED PROFESSIONAL. WE ACCEPT NO LIABILITY FOR TRADING OR INVESTMENT LOSSES.

How the data is produced. Figures are extracted programmatically from SEC filings using a combination of structured (XBRL) parsing and AI-assisted analysis of filing text, and displayed figures are generally linked back to their source documents where a source location can be identified. We run automated verification checks against the original filings, but not every figure can be matched or verified, and automated and AI-assisted extraction is inherently imperfect.

Limitations of the data. Extraction, classification, and interpretation errors can occur and survive our checks; filings can be amended or restated after we process them; companies measure disclosures against different bases (total revenue, receivables, a segment or line of business) and change those bases between periods; some disclosures state only a minimum threshold (shown as "≥X%"), not an exact figure; coverage may be incomplete; and there can be a delay between a filing appearing on EDGAR and appearing on the Service.

WE DO NOT WARRANT OR GUARANTEE THE ACCURACY, COMPLETENESS, TIMELINESS, OR RELIABILITY OF ANY DATA ON THE SERVICE. ALL DATA IS PROVIDED "AS IS" FOR CONVENIENCE ONLY. THE ORIGINAL FILING AS PUBLISHED ON SEC EDGAR IS THE SOLE AUTHORITATIVE SOURCE, AND YOU AGREE TO VERIFY ANY FIGURE AGAINST THE ORIGINAL SEC SOURCE BEFORE RELYING ON IT. YOU ASSUME ALL RISK ARISING FROM YOUR USE OF, OR RELIANCE ON, ANY DATA ON THE SERVICE.

Links to source documents are provided for convenience only; we do not warrant that any link points to the correct, current, or complete location of the underlying disclosure. SEC EDGAR content belongs to its respective filers; we are not affiliated with or endorsed by the U.S. Securities and Exchange Commission or any issuer shown on the Service. Suspected errors may be reported via the contact page; we may, but are not obligated to, review or correct any reported item.

You may sign in with Google or with a single-use email link. You must provide accurate information, keep control of your email account and sign-in method, and promptly notify us of any unauthorized use. You are responsible for activity under your account. Use of Google sign-in is additionally subject to Google's own terms. We may suspend or terminate accounts that violate these Terms. One person per account; accounts may not be shared or transferred.

The current free tier may be changed, limited, or withdrawn at any time. If and when we offer paid subscriptions: (a) payments are processed by Stripe under its own terms; (b) subscriptions renew automatically at the then-current price until cancelled; (c) you may cancel at any time, effective at the end of the current billing period, and retain access until then; (d) we will give reasonable advance notice of price changes, which apply from your next renewal; and (e) except where required by law, fees are non-refundable, though we may issue refunds at our discretion. Taxes may be added where applicable.

Filing alerts and email notifications are provided on a best-effort basis. We do not guarantee that any alert will be delivered, or delivered within any particular time after a filing is published, and you should not rely on alerts as your sole source of material information about any issuer.

You agree not to: (a) scrape, crawl, bulk-download, or systematically extract data from the Service, whether manually or by automated means, without our prior written consent; (b) circumvent access controls, paywalls, or usage limits; (c) resell, redistribute, sublicense, or offer the Service's data or derived datasets as part of a competing product or to train machine-learning models; (d) probe, disrupt, or interfere with the operation or security of the Service; (e) misrepresent your affiliation or impersonate others; or (f) use the Service in violation of applicable law, including securities laws.

The Service's software, design, compilation, structuring, verification methodology, and presentation of data are our intellectual property, protected by copyright, database, and other laws. Underlying SEC filings are public records. Subject to your compliance with these Terms, we grant you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to access the Service and use its content solely for your own internal, non-commercial research purposes. Except as expressly permitted by these Terms or by applicable law (including fair use), you may not copy, reproduce, distribute, publicly display, republish, or create derivative works from the Service or its content. Limited quotation for purposes of commentary, criticism, or news reporting is permitted with attribution to "Concentration of Risk" and, where practicable, a link to the Service; any systematic reproduction, redistribution, or republication of data requires our prior written consent. All rights not expressly granted are reserved.

If you send us ideas, suggestions, corrections, or other feedback, you grant us a perpetual, irrevocable, worldwide, royalty-free license to use it for any purpose without compensation or attribution, and you represent you have the right to grant that license.

The Service links to third-party websites and services (including SEC EDGAR) and relies on third-party providers (including Google sign-in and Stripe). We do not control and are not responsible for the content, accuracy, availability, or practices of third parties. Your use of third-party services is governed by their own terms.

If you believe content on the Service infringes your copyright, send a notice via the contact page identifying the work, the allegedly infringing material and its location, your contact details, and a good-faith statement of unauthorized use. We will review and respond promptly.

The Service is provided without any service-level commitment. We do not guarantee that the Service will be available, uninterrupted, or error-free, and we may suspend the Service for maintenance, updates, or security at any time without notice. We are not liable for any failure or delay caused by events beyond our reasonable control, including internet or hosting failures, third-party outages (including SEC EDGAR), labor disputes, governmental action, war, terrorism, epidemics, or natural disasters.

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, COMPLETENESS, TIMELINESS, UNINTERRUPTED OR ERROR-FREE OPERATION, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT DEFECTS WILL BE CORRECTED OR THAT THE SERVICE IS FREE OF ERRORS OR HARMFUL COMPONENTS.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, REVENUE, DATA, OR INVESTMENT OR TRADING LOSSES, ARISING FROM OR RELATED TO YOUR USE OF (OR INABILITY TO USE) THE SERVICE OR ANY DATA ON IT — INCLUDING LOSSES ARISING FROM ANY ERROR, OMISSION, DELAY, OR INACCURACY IN THE DATA — EVEN IF ADVISED OF THE POSSIBILITY. OUR TOTAL AGGREGATE LIABILITY FOR ANY CLAIM RELATING TO THE SERVICE WILL NOT EXCEED ONE HUNDRED U.S. DOLLARS (US $100) OR THE AMOUNT YOU PAID US IN THE TWELVE MONTHS PRECEDING THE CLAIM, WHICHEVER IS GREATER. Some jurisdictions do not allow certain limitations, so parts of this section may not apply to you; in that case our liability is limited to the greatest extent permitted.

You agree to indemnify and hold us harmless from claims, damages, and reasonable expenses (including attorneys' fees) arising from your violation of these Terms or your misuse of the Service or its data.

Informal resolution first. Before filing any claim, you agree to contact us via the contact page with a written description of the dispute and give us 60 days to resolve it informally.

Arbitration. Any dispute arising out of or relating to these Terms or the Service that is not resolved informally will be resolved by binding arbitration administered by the American Arbitration Association under its Consumer Arbitration Rules, conducted in English by a single arbitrator, remotely or in the county where you reside. The Federal Arbitration Act governs this section. Judgment on the award may be entered in any court of competent jurisdiction. Either party may instead bring an individual claim in small-claims court, and either party may seek injunctive relief in court for infringement or misuse of intellectual property or unauthorized scraping of the Service.

Class-action and jury waiver. ALL CLAIMS MUST BE BROUGHT IN THE PARTIES' INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE, CONSOLIDATED, OR REPRESENTATIVE PROCEEDING. THE ARBITRATOR MAY NOT CONSOLIDATE CLAIMS OR PRESIDE OVER ANY FORM OF REPRESENTATIVE PROCEEDING. YOU AND WE EACH WAIVE ANY RIGHT TO A JURY TRIAL. If the class-action waiver is found unenforceable as to a particular claim, that claim (and only that claim) shall proceed in court under Section 20, with the remainder in arbitration.

Opt-out. You may opt out of this arbitration provision by notifying us via the contact page within 30 days of first accepting these Terms, stating your name, the email on your account, and your intent to opt out. Opting out does not affect any other provision of these Terms.

You may stop using the Service and delete your account at any time. We may suspend or terminate access (including free accounts) for violation of these Terms or to protect the Service, and may discontinue features with or without notice. Sections that by their nature should survive termination (including 3, 4, 9, 10, and 14–17) survive.

We may revise these Terms from time to time. The "last updated" date above reflects the current version; material changes will, where appropriate, be announced on the Service or by email. Continued use of the Service after changes take effect constitutes acceptance of the revised Terms.

These Terms are governed by the laws of the State of Delaware, USA, without regard to its conflict-of-laws rules. Subject to Section 17, any dispute not subject to arbitration will be resolved exclusively in the state or federal courts located in Delaware, and you consent to their jurisdiction and venue. Nothing in this section deprives you of mandatory consumer protections of the country or state where you reside.

You may not use the Service if you are located in, or are a resident or national of, any jurisdiction subject to comprehensive U.S. sanctions, or if you are on any U.S. government restricted-party list. You agree to comply with all applicable export control and sanctions laws.

We may provide notices to you by email to the address associated with your account or by posting on the Service; notices are effective when sent or posted. Legal notices to us must be sent via the contact page.

These Terms and the Privacy Policy are the entire agreement between you and us regarding the Service. If any provision is held unenforceable, the remainder stays in effect. Our failure to enforce a provision is not a waiver. You may not assign these Terms; we may assign them in connection with a merger, acquisition, or sale of assets.

Questions about these Terms? Reach us through the contact page.