It’s 10:30, everyone has finally rolled back in, looks like a smaller group now. Team America got here around 9:35 for the managers meeting, was stopped at the door and asked to sign the operating agreement that included distribution of founders shares and facilities indemnification. A discussion of the unique distribution of the founders shares ensued and the need to keep the spirit of SW Toronto. This was resolved in about a half hour. Forms were signed, donuts and coffee are here and now we’re going.

Legal is discussing the share agreement now with the group - addendum being made to give further incentive shares for the go-forward team  from 13% to around 26%, decreasing the winning idea shares and Innovations Toronto shares, and also fixing a calculation error in total shares issued.  Some discussion now on one of the most difficult aspects of Startup Weekend - how to structure the go forward with 50+ founders. How is it going to look in the eyes of investors, if the idea is successful will founders come out of the woodwork and start to participate and want a bigger piece. Change is unanimous with a quick vote.

10:45 now we’re off for real - an architecture discussion about our Lobby Them product. Some of the SW Toronto folks were up until the wee hours discussing the idea and now we’re being brought up to speed. Next we break up into our functional groups to get this thing going. Quick meetings scheduled every hour to keep everyone informed of developments. More in a bit…

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