The performance results above are a composite of all accounts managed by EvE traded pursuant to the referenced program whose rates of return do not differ materially, except as such returns may differ as a result of differences in incentive fees resulting from any unrecouped loss or losses carried forward from prior periods. In May 2016, EVE LLC restated proforma returns to correct previous performance which included unrecouped loss carry forward balances from prior periods unrelated to this program. The historical returns presented represent the performance as calculated by NAV Consulting from July 2013 moving forward.. There are differences between these returns and those previously reported by EvE, LLC. From Dec 2006 - June 2013 this track record was based on a series of model accounts. In January 2008 leverage was reduced by approximately 1/3 and again by 1/2 in August 2008.