Legal & Finance Update March 2, 2018

 
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THIS WEEK'S UPDATES

  • This week was quite a whirlwind. We have been working non-stop to get our deal with the potential LP partner over the finish line. As of now, we have two points left in the negotiation which we expect to get finalized this week. Once those items are settled in a manner that both parties are happy with we will be ready to slide in a clause here and there and send these transaction documents off for exchange approval. We are moving out of our exclusivity period so I am sure our potential partner is going to be eager to get the deal points locked down.
  • This week included full fledged negotiations with Loyalist College. We actually have an agreement that is being circulated for execution! This is great news and an excellent start of a research partnership between our team and Loyalist. 
  • We finalized an expense reimbursement policy and amended our year-end financials for fiscal year-end 2017.
  • We continue to work on the process of selecting an auditor and had one of our first inter-department budget meetings.

LOOKING FORWARD

  • Solium sent us a go live email this week and as soon as the deal with our LP partner transitions to a stage in which we are just waiting on approvals we will begin sending off emails inviting seed round investors to our exciting new share management platform.  
  • We are also in the early planning stages for our first meeting of shareholders that will likely take place in a few weeks.
  • Interviews are in progress! As you may have heard, we are looking for a mid-level attorney to join our ranks. Interviews commenced this week and will continue into the next week. We have a few stand out candidates so far.

THINGS WE NEED HELP WITH

  • As our team gets larger, we are interested in investing in a program that helps with tight version control for our Word/Visio documents.