Investment Research Corp

Fees and Compensation

Clients in the Program pay a single annualized fee, based upon a percentage of the market value
of all Program assets, or a flat fee, whichever the Client chooses, for participation in the Program.
The Program may cost clients more or less than purchasing such services separately. The Client
can choose either a $3,000 flat fee, or a fee based on a percentage based upon the value of the
Client’s account for 0.5%, 1.0%, 1.5% or another percent value mutually agreed upon between
the Client and Investment Advisor Representative. No fees are charged for issuing reports. The
Maximum fee is 2.0% of assets under management not including program, product, custodial,
mutual fund fees (including marketing fees allowed under SEC Rule 12b-1), servicing or any
other fee imposed on the account by the third-party manager or one of its affiliates.
Compensation is payable quarterly, deducted from the account via third party vendors, and is

billed in advance based upon the value of Client’s account at the preceding quarter-end. If the
advisory contract is terminated prior to the quarter’s completion, the client should ask the
Investment Advisor Representative to request, in writing, for a partial refund of quarterly fees. The
formula to be used when figuring the refund will be business days remaining in the quarter
multiplied by that quarter’s average daily fee.
No supervised person accepts compensation for the sale of securities or other investment
products, including asset-based sales charges or service fees from the sale of mutual funds.
Clients may also incur brokerage fees and transaction costs as described under Brokerage
Practices. Clients may terminate contracts within 5 business days of the initially entering into
them without penalty.

Many mutual funds charge investors in those funds management fees and expenses for
management related services, which are in addition to the fees charged by the Firm. Those fees
and expenses are typically referred to as an “expense ratio,” and are disclosed in the fund
prospectus. The expense ratio is a cost to the investor in the mutual fund. Many, but not all,
mutual funds include in the expense ratio a fee for distribution and marketing, which is often
referred to as a “Rule 12b-1 fee,” which is typically (though not always) 25bp. The Firm has
received in the past, and expects to receive in the future, some or all of the Rule 12b-1 fees paid
by the mutual fund. The receipt of Rule 12b-1 fees creates a conflict of interest because the Firm
has an incentive to recommend or purchase for clients mutual funds which pay Rule 12b-1 fees
rather than a client’s needs. In addition, mutual funds typically offer a number of share classes in
the same fund which are subject to different eligibility, purchase, or transfer limitations, including
for many, although not all mutual funds, a share class often referred to as “institutional shares,
designed for purchasers who meet specified eligibility criteria, such as a minimum dollar
threshold, or enrollment in an eligible fee-based investment advisory program. Institutional shares
usually have a lower expense ratio, and frequently to not charge Rule 12b-1 fees. The existence
of share classes, particularly institutional shares, creates a conflict of interest because the Firm
has an incentive to recommend or purchase non-institutional shares, even where lower cost
institutional shares are available, because non-institutional shares will be more financially
beneficial to the Firm, but more costly to the client. The Firm has received in the past, and
expects to receive in the future, fees paid by non-institutional shares, even when institutional
shares were available which did not pay fees, or which paid lower fees than non-institutional
shares. The Firm addresses the conflicts of interest described in this paragraph through
disclosure to clients and supervision of Investment Advisor Representatives to reduce the
possibility that a client’s needs are not being met. More information about share class eligibility
can be found in the mutual fund prospectus.

Clients should understand that investments recommended by the Firm or the Investment Advisor
Representatives are available for purchase through other brokers or agents that are not affiliated
with the firm.

Financial Planning – Investment Advisor Representatives may be compensated on an hourly
basis, but is also permitted to offer a flat-fee arrangement. Client is billed directly and is often
billed to bring his account current and to cover further estimated billing in accordance with the
engagement agreement. An initial deposit may be required to begin the engagement and the
Client is billed as hours accrue. Rates range from $150 to $250 per hour depending upon the set
of tasks or circumstances about which Client wishes Investment Advisor Representative to
perform or give advice. Fees are negotiable for special situations. Client is responsible for third
party service or product costs, fees, or expenses incurred by Client or Investment Advisor
Representative on behalf of Client. Clients may also incur brokerage fees and transaction costs
as described under Brokerage Practices. If Client terminates the engagement and a residual of
any advanced payment remains after an accounting for fees, expenses, hours expended on

Client’s behalf, this residual is returned within seven business days of the final accounting. After
48-hours, no part of the initial deposit is refundable if Client terminates, but a pro rata portion is
returned if Adviser terminates the engagement.

Types of Clients

The Firm generally provides investment advice to Individuals as well as investment companies,
pension and profit-sharing plans, trusts, estates, charitable organizations, and corporations or
business entities.

The Firm does not impose a minimum dollar value of assets or other conditions for starting or
maintaining an account.

Methods of Analysis, Investment Strategies and Risk of Loss

The Firm uses a fundamental style of security analysis. Fundamental Analysis involves looking
for, as an example, potential of growth, future factors such as interest rate cuts or mergers,
management of a company or economic strength. The main sources of information are derived
from financial newspapers and magazines, inspections of corporate activities, corporate rating
services, annual reports, prospectuses, filings with the Securities and Exchange Commission and
company press releases.

Investment strategies used to implement any investment advice given to clients include:
       Long Term Purchases (securities held at least a year)
       Short Term Purchases (securities sold within a year)
       Trading (securities sold within 30 days)

Investing in any mutual fund involves risk, including the risk that you may receive little or no return
on your investment, and the risk that you may lose part or all of the money you invest.
In addition, the legal cannabis business is a quickly growing and emerging business. As a result
there are additional risks that you should consider.

 Stock Market risk is the risk that all or a majority of the securities in a certain market - such as
the stock or bond market - will decline in value because of factors such as economic conditions,
future expectations or investor confidence.
 Operational and cybersecurity risk. Cybersecurity breaches may allow an unauthorized party to
gain access to fund assets, customer data, or proprietary information, or cause a fund or its
service providers to suffer data corruption or lose operational functionality. Similar incidents
affecting issuers of a fund’s securities may negatively impact performance. Operational risk may
arise from human error, error by third parties, communication errors, or technology failures,
among other causes.
Before you invest in the Fund you should carefully evaluate the risks. Because of the nature of
the Fund, you should consider the investment to be a long-term investment that typically provides
the best results when held for a number of years.
 Market Risk. Economies and financial markets throughout the world are becoming increasingly
interconnected, which increases the likelihood that events or conditions in one country or region
will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s
portfolio may underperform in comparison to securities in general financial markets, a particular

financial market or other asset classes due to a number of factors, including inflation (or
expectations for inflation), deflation (or expectations for deflation), interest rates, global demand
for particular products or resources, market instability, debt crises and downgrades, embargoes,
tariffs, sanctions and other trade barriers, regulatory events, other governmental trade or market
control programs and related geopolitical events. In addition, the value of the Fund’s investments
may be negatively affected by the occurrence of global events such as war, terrorism,
environmental disasters, natural disasters or events, country instability, and infectious disease
epidemics or pandemics.
For example, the outbreak of COVID-19 has negatively affected economies, markets and
individual companies throughout the world, including those in which the Fund invests. The effects
of this pandemic to public health and business and market conditions, including, among other
things, reduced consumer demand and economic output, supply chain disruptions and increased
government spending, may continue to have a significant negative impact on the performance of
the Fund’s investments, increase the Fund’s volatility, exacerbate pre-existing political, social and
economic risks to the Fund, and negatively impact broad segments of businesses and
populations. In addition, governments, their regulatory agencies, or self-regulatory organizations
have taken or may take actions in response to the pandemic that affect the instruments in which
the Fund invests, or the issuers of such instruments, in ways that could have a significant
negative impact on the Fund’s investment performance. The duration and extent of COVID-19
and associated economic and market conditions and uncertainty over the long-term cannot be
reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which the
associated conditions impact the Fund will also depend on future developments, which are highly
uncertain, difficult to accurately predict and subject to frequent changes.
 Early Close/Trading Halt Risk is the risk that an exchange or market may close or issue trading
halts on specific securities, or the ability to buy or sell certain securities or financial instruments
may be restricted, which may prevent the Fund from buying or selling certain securities or
financial instruments. In these circumstances, the Fund may be unable to rebalance its portfolio,
may be unable to accurately price its investments and may incur substantial trading losses.
 Industry and security risk is the risk that the value of securities in a particular industry or the
value of an individual stock or bond will decline because of changing expectations for the
performance of that industry or for the individual company issuing the stock or bond.
 Management risk is the risk that the Advisor´s assessment of a company´s ability to increase
earnings faster than the rest of the market is not correct, the securities in the portfolio may not
increase in value, and could decrease in value.
...