Terms of Service: Dawn Tape

Last updated: 27 Oct 2026.

1. Who we are

Dawn Tape (the "Service") is operated by its publisher ("Dawn Tape", "the publisher", "we", "us"). By creating an account, starting a trial or using the Service you accept these Terms. If you do not accept them, do not use the Service.

2. What the Service is

2.1 Dawn Tape is an impersonal, general-circulation publication about the US stock premarket and small-cap gappers. 2.2 Notes and guides. The notes and the guides are free to read. 2.3 Runner Flags (paid). On a US trading day there may be zero, one or more Runner Flags, each before the open. Members get the flag by email, on Telegram, or on the site. The next day the flag is public, with the result. On days with no flag we publish a "No flag today" note. We do not promise a flag on any given day. 2.4 Public Record. From the next US trading day, each Runner Flag becomes free to read for everyone, unchanged, with its own outcome added. Every flag gets its own row in the public Record, misses included, and no-flag days are shown too. Outcomes are measured from the reference price stated at publication time.

3. Not personal advice

3.1 Nothing in the Service is personal investment advice or a prompt for you to trade any security. The Service does not consider your finances, objectives or risk tolerance. It gives no entry or exit instructions, price levels, exit levels, or position sizes, and sends no follow-up instructions after publication. 3.2 We are not registered or licensed as an investment adviser or broker-dealer. Support covers account and billing questions. The Service is not a substitute for advice tailored to your situation; consult a licensed professional before investing.

4. Risk

Small-cap and premarket securities are highly volatile and often illiquid. Halts, dilution, manipulation and total loss happen. Premarket quotes may be thin or not executable. You alone are responsible for your trading decisions.

5. Record and past results

Record figures are historical, measured from the publication-time reference price, and do not include execution, slippage or fees. They are not the results of any reader and may contain errors. Past results do not predict future results.

6. Author interest and compensation

6.1 Every Runner Flag article and email carries this fixed line: "General market news. Not investment advice. The author may hold the Runner Flag name and does not trade it before the 9:30 ET open on the publication day." 6.2 We receive no compensation, directly or indirectly, from any company we cover, its affiliates, investor-relations firms or promoters.

7. Accounts

You must be at least 18. One person per subscription; do not share logins. You are responsible for activity under your account.

8. Trial, price and billing

8.1 Membership is $29 per month for the life of that subscription, after a 7-day free trial. It renews monthly until cancelled. 8.2 Payments are processed by Lemon Squeezy through its hosted checkout. Lemon Squeezy is the merchant of record: it is the seller of your purchase, handles payment, invoices and sales taxes, and its buyer terms also apply. We never see or store your card details. 8.3 Cancel at any time from your account or the Lemon Squeezy customer portal. If you cancel during the trial you are not charged. After that, access continues until the end of the paid month; partial months are not refunded unless the law requires it. 8.4 We may change the price with at least 30 days' notice, effective from your next renewal.

9. Use of content

Content is for your personal, non-commercial use. Do not forward, repost or share a Runner Flag (in chats, social media, newsletters or elsewhere) before it becomes public. Do not scrape the Service or use it to build a competing product.

10. Disclaimers and liability

THE SERVICE IS PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE ARE NOT LIABLE FOR ANY TRADING OR INVESTMENT LOSSES OR ANY INDIRECT OR CONSEQUENTIAL DAMAGES. OUR TOTAL LIABILITY IS LIMITED TO THE FEES YOU PAID IN THE 3 MONTHS BEFORE THE CLAIM. Mandatory consumer rights where you live are not affected.

11. Termination

You may close your account at any time. We may suspend accounts that breach these Terms, or end the Service with a pro-rata refund of any prepaid unused time.

12. Governing law

These Terms are governed by [GOVERNING LAW]. Disputes go to the courts of [VENUE].

13. Changes and contact

We will email members at least 14 days before material changes take effect. Contact: [support@dawntape domain] for account and billing questions.