A) Firm Description Potomac Advisors, Inc. (hereinafter “PA”) is a SEC registered investment advisor based in Lakewood Ranch, Florida. It will be changing from an SEC registered investment advisor to a state registered investment advisor. The company was founded in 2003, under Florida state law, and is currently licensed in Florida, Maryland and Texas. Richard M. Paul is the President, CIO. Meghan Paul is the Vice President, Operations and an Investment Advisor Representative. As of December 22, 2021, 98% of ownership in Potomac Advisors Inc., has transferred to the Richard M Paul 2021 Family Trust. Ms. Florence Paul and Ms. Meghan Paul are co-trustees B) Type of Advisory Services PA offers three services: 1) non-discretionary Signal Providing Services, where PA provides to unaffiliated SEC and state registered investment advisers, financial planning firms, broker-dealers, banks and other financial institutions (hereinafter the “primary adviser”) market timing signals and suggestions to buy stock or fixed income mutual funds or Exchange Traded Funds (ETFs); 2) sub-advisory services to an investment company registered under the Investment Company Act of 1940; and 3) continuous and regular supervisory or management services primarily to individuals, including high net worth individuals, and occasionally to pension and profit-sharing plans; trusts; estates and charitable organizations; corporations and other business entities (hereinafter “Clients”). PA does not hold itself out as providing, nor do we provide any financial planning or related consulting services. Neither PA, nor any of its representatives, serves as an attorney, accountant, or insurance agent, and no portion of PA services should be construed as the same. SIGNAL PROVIDING SERVICES PA has developed four proprietary, quantitative investment strategies: EVO 1, EVO 2, EVO 3, and Tactical Asset Allocation (hereinafter “TAA”). These strategies process financial market data using technical analysis and, when possible, technical analysis converted into mathematical algorithms that produce periodic instructions to purchase or sell various mutual funds, and ETFs (hereinafter “Signals”) and allocation recommendations for such funds and ETFs. These Signals are available to a Primary Adviser upon execution of a license agreement and delivered via email and/or telephone. The Primary Adviser is under no obligation to utilize the Signals provided by PA and reserves the right to use or not use the Signals for managing its clients’ accounts at its sole discretion. If the Primary Advisers accept the recommendations, they place the orders and effect their execution. PA does not arrange, implement, or effectuate the trade. SUB-ADVISORY SERVICES PA has an investment advisory contract with Tactical Fund Advisors (“TFA”) to manage the TFA Quantitative Fund, Class A Shares (Ticker: TFAPX), Class I Shares: (Ticker: TFAQX). This fund has been submitted to the SEC for approval. SUPERVISORY MANAGEMENT SERVICES PA offers limited-discretionary portfolio management services to its clients. All Clients sign Part I of the PA’s Investment Management Agreement, which limits this discretion to the selection and timing of the proper mix and balance of securities, and to placing orders for the purchase, sale or exchange of those securities. PA places orders in the Client’s accounts without prior consultation with the Client. C) How Advisory Services are Tailored to Client Needs SIGNAL PROVIDING SERVICES / SUB-ADVISORY SERVICES Under the signal-providing and sub-advisory arrangements, the primary

adviser remains responsible for determining their client’s investment objectives and whether PA’s investment strategies are suitable to meet such investment objectives. Accordingly, PA”s investment strategies are not tailored to accommodate the needs or objectives of specific clients, but rather, are designed to enable the primary advisor to match clients with the strategy that is consistent with their investment goals and objectives. SUPERVISORY MANAGEMENT SERVICES For supervisory management services, acceptance, supervision and portfolio management of each Client's account is tailored to and based upon the completion of a suitability questionnaire (Part II of the Investment Management Agreement) and an interview of the investor by a PA representative or an unaffiliated third party representative who may have referred the Client to PA (hereinafter, “Solicitor”). (For more information about Potomac's relationship with Solicitors, see Item 10, “Other Financial Industry Activities and Affiliations” of this brochure). The suitability questionnaire gathers the Client’s investment experience, liquidity requirements, tolerance for risk and general financial condition. This helps establish the Client’s relative risk profile, tolerance of losses, and investment time horizon, which guides the selection of strategies for the Client’s account. Additionally, Clients may impose restrictions that may affect the ability of PA to manage the Client’s assets. Based on the Client’s interview and questionnaire, PA allocates investments into either the EVO Strategies, or into other mutual funds, stocks or ETFs through PA’s TAA strategies, or a combination of both. It remains the Client’s responsibility to advise PA (and/or the Solicitor that introduced the Client to PA), in writing, of any changes in their investment objectives and/or financial situation. All Clients (in person, via telephone, or written communication) are encouraged to review investment objectives and account performance on an annual basis. If the Client is referred to PA by a Solicitor, the Client should direct all such communications to the Solicitor. Please Note: In performing its services, PA is not required to verify any information received from the Client or from the Client’s other professionals, including the Solicitor, and is expressly authorized to rely thereon. Solicitors who refer Clients are exclusively responsible for: (1) determining initial and ongoing Client suitability for the various adviser investment strategies; and, (2) for receiving/ascertaining all Client directions, notices and instructions, and forwarding them to PA, in writing. PA will rely upon any such direction, notice, or instruction until it has been advised of changes in writing. PA is not responsible for the failure of the Solicitor to timely receive/ascertain/forward/communicate Client directions, notices and instructions. D) Wrap Programs PA does not currently offer any wrap fee programs. E) Regulatory Assets Under Management and Non-Regulatory Assets under Advisement REGULATORY ASSETS UNDER MANAGEMENT: ● The amount of regulatory assets under management, which includes all assets that PA has discretionary authority over and provides continuous and regular supervisory or management services as of December 31, 2022, is approximately $14,849,327.00. NON-REGULATORY ASSETS UNDER ADVISEMENT ● Outside assets that are “held-away,” where trades are arranged and effectuated by Primary Advisers utilizing our Signal Providing Services, as of December 31, 2022, amounted to approximately $179,014,198.00.