Terms of Use

Effective date: 1st of June, 2024

This page contains our Terms of Use. By using the SolarX website and app (the “Portal”) and any of the services (together with the Portal, the “Services”) offered by SolarX Labs, Inc. (collectively, “SolarX,” “we,” or “us”), you’re agreeing to these legally binding rules (the “Terms” or “Terms of Use”). You’re also agreeing to our Privacy Policy and Cookie Policy, and agreeing to follow any other rules on the Site, including any guidelines and rules applicable to our services, which are incorporated in these Terms by reference.

THESE TERMS OF SERVICE (the “Agreement”) GOVERN YOUR RECEIPT, ACCESS, AND USE OF THE SERVICES PROVIDED BY SOLARX. BY ACCEPTING THIS AGREEMENT THROUGH (A) ENGAGING IN ONLINE INVESTING VIA AN ONLINE PROCESS THAT REFERENCES THIS AGREEMENT, OR (B) CLICKING A BOX INDICATING ACCEPTANCE, YOU AGREE TO BE BOUND BY ITS TERMS.

If you are accepting this Agreement on behalf of a company or other legal entity, you represent and warrant that you have the authority to bind such entity to this Agreement. If you do not have such authority, or if the applicable entity does not agree with these Terms of Use, you must not accept this Agreement and may not use the Services.

Only verified accounts are permitted to invest. Verification is conducted in compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations as required by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to ensure the safety and compliance of all transactions on the platform.

We may update these Terms from time to time as laws, our Services, and practices change. We encourage you to review these Terms periodically. Continued use of SolarX after a change assumes acceptance of the current version. These Terms may be translated into another language for your convenience; in the event of a conflict, the English version shall control.

SolarX is designed for both personal and corporate use as an investment platform, enabling a diverse range of investors to access and invest in solar energy projects.

This updated version includes the addition of the app in the usage description and explains the KYC and AML verification processes for regulatory compliance.

1. The Company

1.1 Service Description. SolarX Labs, Inc. ("SolarX") offers an app designed for investing in solar energy projects and, potentially in the future, other related infrastructure such as transmission lines to enable the sale and distribution of solar energy. As we grow, the scope may expand to include other renewable energies or commodities. The app facilitates user investments, and any content or data uploaded by users in relation to these investments are considered "User History." SolarX is responsible for managing these history as detailed in further sections.

1.2 Asset Management. Digital investors engage with SolarX to manage their assets under management (AUM). The specific terms and conditions governing the management of these assets are detailed during the investment process. This engagement provides digital investors with access to investment opportunities without the traditional subscription model.

1.3 SolarX Ownership. SolarX retains ownership over the app, associated content, and any underlying technologies, including software. All intellectual property rights are retained by SolarX, with no implied licenses under this Agreement, and any use of our services grants no rights beyond those expressly stated.

2. Confidentiality

2.1 Definition. Each party (the "Receiving Party") understands that the other party (the "Disclosing Party") may disclose business, technical, or financial information relating to the Disclosing Party's business that reasonably should be understood to be confidential given the nature of the information and the circumstances of disclosure (hereinafter referred to as the "Confidential Information" of the Disclosing Party). SolarX’s Confidential Information includes non-public information regarding features, functionality, and performance of the Service. Digital Investor’s Confidential Information includes their investment data and User History. This Agreement and the information in all related transactions will be deemed the Confidential Information of both parties. Confidential Information does not include information that is publicly known, legally acquired from other sources, or independently developed without access to the Disclosing Party’s Confidential Information.

2.2 Protection and Use of Confidential Information. The Receiving Party will use a high degree of care to protect the Confidential Information and limit access to those who have a legitimate need to know in connection to this Agreement, who are also bound by confidentiality obligations. The Confidential Information will not be used for any purpose outside the scope of this Agreement, except as expressly permitted herein or required by law.

2.3 Disclosure for Legal and Regulatory Reasons. SolarX may disclose Confidential Information when required by law or regulatory authorities such as the SEC or FINRA, or during audits conducted by authorized firms. In such cases, SolarX will provide prior notice to the Disclosing Party, when legally permissible, and seek to limit the disclosure to the necessary information.

3. Data

3.1 User Information. Digital investors are required to provide information such as name, email address, username, IP address, browser, and operating system ("User Information") upon logging into SolarX to access the Services. SolarX and its subcontractors are granted the right to store, process, and retrieve this User Information in connection with the digital investor's use of the Services. Digital investors represent and warrant that they have all necessary rights to transfer User Information to SolarX and to allow it to be processed as contemplated by this Agreement. Digital investors are responsible for securing their account credentials, and any unauthorized use of such credentials will be their responsibility.

3.2 Data Protection. SolarX has implemented reasonable information security practices to protect User Information, including administrative, technical, and physical security processes. Despite these measures, digital investors are responsible for maintaining the security, protection, and backup of their hardware, software, systems, information, and data. During the term of their engagement with the Services, SolarX will process all data in accordance with SolarX’s data protection agreement, details of which can be accessed directly from SolarX.

4. Investment Risks and Returns

4.1 Risk Management Measures. SolarX incorporates multiple safeguards in its investment opportunities, such as a promissory note for breaches of contract, a 25-year equipment warranty, and asset-based project insurance. Additionally, both engineering and fiscal analyses are conducted to ensure robust investment structuring. Despite these measures, potential risks still exist, including natural disasters, energy price fluctuations, and global crises, which may impact the project's performance positively or negatively.

4.2 Return Yield Adjustments. The return yield on SolarX investments is subject to change monthly based on various influencing factors such as seasonal variations, climate conditions, sun radiation, and changes in energy prices and exchange rates. These elements collectively impact the overall performance of the investment portfolio, indicating that return yields may increase or decrease accordingly.

4.3 Diversification and Asset Allocation. While diversification and asset allocation strategies are employed to manage investment risks effectively, they do not guarantee profit or protect against the potential loss of principal. Investors should be aware of these strategies' limitations and their impact on investment outcomes.

5. Investment Information and Documentation

5.1 Investment Opportunity Information. SolarX provides detailed information sourced from reliable entities, including historical data on solar irradiance and energy prices. This data helps predict future performance of solar panels and the broader energy market. However, despite rigorous data collection methods, the accuracy and completeness of this information cannot be guaranteed, and SolarX does not assume responsibility for the truthfulness or any interpretations made from this data.

5.2 Documentation Accessibility. Investors are encouraged to thoroughly review the detailed documentation associated with current portfolio investments and future projects that are listed as "coming soon," which may include projects under construction or in the preparatory phases before operation begins. Comprehensive documents outlining the specifics of each investment in the portfolio are readily accessible on the SolarX website. These documents contain essential information about the characteristics and risks associated with each investment, ensuring that investors have all the necessary data to make informed decisions.

5.3 Historical Data and Opinion Validity. The opinions and expectations expressed by SolarX are based on historical returns and market analysis. While these provide a valuable indicator of potential future performance, they do not guarantee future results. Investors are cautioned to use this information as one of many tools in their investment decision-making process.

6. Client Responsibilities

6.1 Tax Consultation. It is the responsibility of each digital investor to consult with their accountant or tax advisor regarding tax-related matters associated with their investments. This consultation is crucial to ensure compliance with applicable tax laws and to optimize potential tax benefits related to investment activities.

6.2 Offer Restrictions. SolarX reserves the right to restrict or revoke any offers at any time without prior notice. This action can be based on changes in market conditions, regulatory requirements, or the company’s discretion. Investors should be aware that offers and terms may change and should regularly review the terms associated with their investments.

6.3 Legal and Financial Advisory Disclaimer. The information provided on the SolarX website and in related communications should not be considered as an offer, solicitation, or advice to buy or sell any securities or other financial products. It is also not intended to serve as tax or legal advice. Investors are strongly encouraged to consult with professional financial and legal advisors to obtain personalized advice and to ensure that all investment decisions are aligned with their financial goals and legal requirements.