Our Singapore EntrePass application was accepted! So now it’s official: On Jan 15, we are moving to Singapore.
We finally signed a company agreement that makes Jessy CEO and CFO and makes me President and Secretary. So now we’re both officers/directors of Openly (previously, it was just me).
We also sold two million shares to each of us (out of ten million total shares). So now Jessy and I each own 50% of the company. Of course, the shares are subject to vesting over the next four years and subject to a one year cliff. And we filed form 83b with the Internal Revenue Service to pre-pay income taxes for our shares now (rather than when they vest each year and might be worth substantially more).
On the product-side, we have not made any progress. There have been too many meetings and too much papework to complete. Hopefully, we will get a chance to pick up the slack over the holidays - although those will likely be a bit busy, too.
Just two days left in the US now. The next post will be from Germany. Bye bye!