Holdings are subject to change. The Intellectual Property Claims Breakdown is based on patents granted and pending with the United States Patent and Trade Office, Patent Cooperation Treaty (“PCT”) system and individual country patent offices.  Prosecution history may be obtained with the United States Patent and Trade Office or with https://CirclesX.com/patents  

Before investing you should carefully consider the Funds investment objectives, risks, charges and expenses.  This and other information is in the VaultsX Limited Partnership Agreement which may be obtained at https://CirclesX.com/vaultsxlpa/ . Please read the VaultsX Limited Partnership Agreement carefully before you invest.

The principle risks of investing on the CirclesX platform for the VaultsX Series I LP include:

Intellectual Property Risk:  Patents are the primary means of protecting IP and represent a rule-of-law guarantee akin to a deed’s role in protecting the ownership of land. The Founders of the United States wrote patent protection into the Constitution to “promote the progress of science and the useful arts,” and Abraham Lincoln revered patents for adding “the fuel of interest to the fire of genius.” In 2014, IP-intensive industries in the United States accounted for $6.06 trillion in value-added, or 38.2 percent of U.S. gross domestic product (GDP). IP-intensive industries supported 45.5 million jobs in 2014 alone, about thirty percent of all employment., according to a recent study from the U.S. Patent and Trademark Office.  To ensure the protection of patents in the U.S. and around the world, SimpsX Technologies LLC supports a careful legislative and regulatory approach to any changes in the patent system that doesn’t undermine inventors’ rights. To bolster the strength of the U.S. patent system, SimpsX Technologies LLC supports efforts to fully fund the United States Patent and Trademark Office.  

Legal and Jurisdiction Court Risk:  Efforts by some businesses to avoid paying fair and reasonable royalties for the use of our intellectual property may require the investment of substantial management time and financial resources and may result in legal decisions or actions by governments, courts, regulators or agencies, Standards Development Organizations (SDOs) or other industry organizations that harm our business. Changes in our patent licensing practices, whether due to governmental investigations or private legal proceedings challenging those practices, or otherwise, could adversely impact our business and results of operations. The continued and future success of our licensing programs requires us to continue to evolve our patent portfolio and to renew or renegotiate license agreements that are expiring or to cover additional future patents.

Regulatory and Legal Risk: The enforcement and protection of our intellectual property may be expensive, could fail to prevent misappropriation or unauthorized use of our intellectual property, could result in the loss of our ability to enforce one or more patents, and could be adversely affected by changes in patent laws, by laws in certain foreign jurisdictions that may not effectively protect our intellectual property and by ineffective enforcement of laws in such jurisdictions.

Pandemic Risk: The coronavirus (COVID-19) pandemic has had an adverse effect on our business and results of operations, and may continue to impact us in the future.

General Risk: Our business may suffer due to the impact of, or our failure to comply with, the various existing, new or amended laws, regulations, policies or standards to which we are subject. There are risks associated with our debt and leverage.  Failures in our products, or in the products of our customers or licensees, including those resulting from security vulnerabilities, defects or errors, could harm our business.

FUNDS ARE NOT FDIC INSURED – FUNDS HAVE NO BANK GUARANTEE – FUNDS MAY LOSE VALUE