The Capital Consortium Confidential · Summer 2026
CC

A Systematic Trading & Securities Allocation

A disciplined ten-million-dollar
allocation into the engine of
systematic markets.

A 13-month note structured for cyclical income — dividend distributions paid at month 4 and every three months thereafter, with full principal returned at month 13. Capital deployed into CFXM Inc. — the Consortium's trading-and-securities arm — running a systematic SPX defined-risk income engine.

For the attention of Investment Family Office
The Capital Consortium · CFXM Inc. · Carpediem Improvements · Contacto.live Summer 2026 · New York · Florida

The Brief

An institutional offering, written by operators who built the engine.

  1. 01The Opportunity & Thesisp. 03
  2. 02Note Structure & Termsp. 04
  3. 03Strategy — SPX Defined-Risk Income Enginep. 05
  4. 04Distribution Schedule — 13-Month Cadencep. 06
  5. 05Operations & Risk Architecturep. 07
  6. 06The Teamp. 08
  7. 07Long-Term Visionp. 09
  8. 08Risk & Disclosuresp. 10
CONFIDENTIAL — FAMILY OFFICE BRIEFING02

01 — The Opportunity

The yield is in the structure, not the forecast.

Directional trading compensates investors for being right. Systematic, defined-risk options trading compensates them for structure — for harvesting volatility-risk premium and time decay across regimes, not for predicting the next move.

What we offer

  • A 13-month note against a $10M allocation into the Consortium's trading-and-securities arm, CFXM Inc.
  • Quarterly dividend distributions beginning at month 4, then every three months thereafter, with full principal repaid at month 13.
  • Capital deployed into a systematic SPX defined-risk income engine — multi-leg, cash-settled, European-exercise contracts engineered for non-directional yield.
  • Section 1256 contracts may carry 60/40 blended capital-gains treatment — potentially enhancing after-tax returns relative to standard equity options.

Why it works

  • SPX options are cash-settled and European-style — no early-assignment risk and no equity-delivery friction. The structural advantage is real.
  • Multi-leg defined-risk constructions — credit spreads, iron condors, market-neutral configurations — cap maximum loss before any position is opened.
  • The volatility-risk premium — the persistent gap between implied and realized volatility — is a structural yield source independent of market direction.
  • Theta decay — the contractual erosion of option time value — monetizes on a daily basis as long as positions remain inside their defined-risk envelope.

The Window — Why Now

VRP
Volatility-Risk Premium
Persistent gap between implied and realized vol — the structural yield source
60/40
Section 1256 Treatment
Long-term / short-term blended capital-gains characterization on qualifying contracts
EU· CASH
SPX Structural Advantage
European exercise · cash-settled · no assignment risk
THETA
Daily Time-Decay Harvest
Contractual erosion of option time value, monetized day by day
CONFIDENTIAL03

02 — Note Structure & Terms

A simple instrument. A deliberate cadence.

The note deploys into CFXM Inc.'s systematic SPX trading book. The first month of the term funds the strategy's capital-cycling ramp; income distributions begin at month 4 and continue on a quarterly cadence through final maturity at month 13.

Allocation
$10,000,000
Single-tranche subscription into CFXM Inc.
Term
13 Months
Month 1 capital-cycling ramp; income engine active months 2–13
First Distribution
Month 4
First dividend payout to investor; one full quarter after the strategy is fully cycled
Distribution Cadence
Every 3 Months
Quarterly payouts at month 4, month 7, month 10, and the final payout at month 13
Maturity
Month 13
Full repayment of principal alongside the final quarterly distribution
Strategy
Systematic SPX
Defined-risk, cash-settled, European-exercise multi-leg options engine
Underlying Vehicle
CFXM Inc.
The Consortium's trading-and-securities arm; Florida-tied operations
Reporting
Quarterly
Audited annual; portfolio-level transparency aligned to the distribution cadence

Note. Final terms — including the dividend-distribution rate, capital-cycling ramp mechanics, and quarterly reporting cadence — will be memorialized in a definitive note purchase agreement and security instruments. The 13-month term and the month-4 / month-7 / month-10 / month-13 distribution schedule reflect the structural posture of the proposed instrument; final rate and payment mechanics are addressed by the operative documents.

CONFIDENTIAL04

03 — SPX Defined-Risk Income Engine

Cash-settled. European-style. Defined-risk by construction.

The book is constructed from multi-leg, cash-settled S&P 500 Index options. The European-style exercise feature of SPX eliminates early-assignment risk entirely; the multi-leg, defined-risk structure caps maximum loss on each position before it is opened.

Structures we use

  • Credit spreads — one short leg, one protective long leg, defined max loss, theta-positive.
  • Iron condors — range-bound, two-sided defined-risk income; capital-efficient under modest volatility.
  • Market-neutral configurations — engineered for non-directional regimes; profit driven by structure rather than direction.

What we harvest

  • Volatility-risk premium — the persistent gap between implied and realized volatility, captured systematically across regimes.
  • Theta decay — the contractual erosion of option time value, monetized on a daily basis.
  • Section 1256 60/40 treatment — favorable blended capital-gains characterization on qualifying contracts, potentially enhancing after-tax returns.
EU
European-Style Exercise
No early-assignment risk — structural certainty
CASH
Cash-Settled
No equity delivery, no pin risk at expiry
MULTI-LEG
Defined-Risk by Construction
Max loss capped before position is opened
§ 1256
60/40 Tax Treatment
Blended long-term / short-term capital-gains treatment where applicable
CONFIDENTIAL05

04 — Distribution Schedule

Thirteen months. Four payments. One cycle.

Capital deployed into the AUM requires one full month to ramp into the systematic strategy. The first dividend payout lands one full quarter after the strategy is fully cycled — month 4 — with three additional quarterly payouts following at month 7, month 10, and at maturity in month 13 alongside full return of principal.

Month 1
Capital Cycling
Subscribed capital ramps into the systematic SPX positions. No distribution.
Months 2 — 3
Engine Active
Full deployment across SPX defined-risk structures; income accrues to the book.
Month 4
Distribution 1
First quarterly dividend distribution paid to investor.
Month 7
Distribution 2
Second quarterly dividend distribution.
Month 10
Distribution 3
Third quarterly dividend distribution.
Month 13
Maturity
Final quarterly distribution paid alongside full repayment of principal. Note matures.

The 13-month structure is deliberate: month 1 of capital cycling ensures the first distribution at month 4 reflects a full quarter of the strategy operating at full deployment, not a partial-ramp period. Each subsequent quarter compounds the same operating posture through maturity.

CONFIDENTIAL06

05 — Operations & Risk Architecture

Risk is engineered before it is taken.

Position-Level Controls

Every leg of every position is sized against pre-defined exposure limits. Maximum loss on each multi-leg structure is capped by construction — before the position opens, not after the market moves.

  • Defined-risk credit spreads and iron condors — max loss capped at trade entry.
  • Position sizing keyed to portfolio-level vol exposure, not nominal contract count.
  • Pre-defined loss thresholds at the position and book level — structural, not discretionary.

Book-Level Architecture

The book is engineered for volatility expansion and tail-risk events. Exposure caps, hedge ratios, and regime monitors are built into the system, not bolted on.

  • Capital protected through volatility expansion via construction limits.
  • Tail-risk events addressed by defined-risk multi-leg constructions and pre-set thresholds.
  • Pre-defined rebalancing thresholds embedded in the strategy logic — structural, not discretionary.
CONFIDENTIAL07

06 — The Team

Three mandates. One table.

Trading & Securities Principal
Francisco Cales
Principal of CFXM Inc. and operator of Carpediem Improvements and Contacto.live. Florida-headquartered build-and-operations group extending into trading-and-securities through the CFXM systematic SPX engine. Brings cross-discipline operating capability — LEED-certified construction across multiple states; bilingual nearshore tenant operations; and the operational and execution discipline that anchors the systematic SPX book.
CFXM · Carpediem · Contacto.live
Investment Management & Analytics
The Capital Consortium
Lead manager. Underwriting, portfolio construction, capital allocation across the platform's six disciplines, investor reporting, and the analytics layer that ties trading-and-securities to the broader operating book.
Capital · Strategy · Reporting
Independent Compliance & Investor Advisory
Elido Santana
Operates an independent licensed advisory function serving the platform — separated from investment management by design, matching institutional best practice. Holds the Series 65 Uniform Investment Adviser Law Examination and is a Florida-registered Investment Adviser Representative (FINRA CRD #8196735, verifiable on FINRA's IAPD / BrokerCheck). Provides regulatory oversight, investor-suitability review, and the structural bridge between the family-office mandate and the operator pipeline.
Compliance · IAR · Independent Oversight
CONFIDENTIAL08

07 — The Long-Term Vision

A systematic AUM, capitalized like an institutional desk.

The first thirteen-month note is the seed. The horizon is a recurring family-office programme that capitalizes a systematic, defined-risk SPX trading book alongside the platform's broader operating disciplines.

Cycle One

  • Deploy the $10M tranche into the systematic SPX defined-risk engine.
  • Stand up quarterly reporting cadence and portfolio-level distribution infrastructure.
  • Establish the operating posture — capital cycling at month 1, distributions at months 4 / 7 / 10 / 13.

Cycles Two — Five

  • Scale platform AUM toward the family office's appetite under the same structural posture.
  • Layer additional defined-risk constructions and refine the systematic engine across volatility regimes.
  • Convert the relationship from single-tranche note to an evergreen quantitative allocation.
CONFIDENTIAL09

08 — Risk & Disclosures

Risk is priced where it lives. Disclosure is plain.

Mitigants

  • Defined-risk construction — maximum loss capped by structure on every position before entry.
  • European-style exercise — no early assignment, no equity delivery friction.
  • Cash settlement — no pin risk at expiry; no physical-delivery exposure.
  • Pre-defined exposure limits — position-level and book-level loss thresholds embedded structurally.
  • Independent compliance oversight — Series 65 / Florida IAR (Santana, CRD #8196735).

Acknowledged risk factors

  • Derivatives risk — option strategies carry inherent market and timing risk; defined-risk caps the loss, not the probability of loss.
  • Volatility-regime risk — extended low-volatility or unusually high-volatility regimes can compress strategy yield.
  • Counterparty risk — clearing and exchange-side counterparty exposure inherent in listed-options trading.
  • Regulatory risk — jurisdictional rules governing derivatives and Section 1256 tax treatment may evolve.
  • Liquidity — private note; not redeemable on demand prior to maturity.
  • Tax treatment — Section 1256 60/40 characterization depends on contract eligibility and may change with statutory or regulatory action.
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Closing

We have built the trading-and-securities engine quietly, position by position.
We invite you to capitalize the next cycle.

For follow-up dialogue, due diligence on the systematic SPX strategy, or to schedule a walk-through of the engine, the Consortium principals are available at the family office's convenience.

Confidentiality & Disclaimer. This document is delivered solely to the named recipient for the purpose of evaluating a potential investment in a private note structured against a systematic trading-and-securities strategy. It does not constitute an offer to sell or a solicitation to buy any security; any final investment will be governed exclusively by the executed note purchase agreement and security instruments. Derivatives trading involves substantial risk and is not suitable for every investor; past performance is not indicative of future results, and forward-looking statements involve risks and uncertainties — actual results may differ materially. Section 1256 tax treatment depends on contract eligibility and may change with statutory or regulatory action. The recipient agrees to maintain this document and its contents in strict confidence and to return or destroy all copies upon request.

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