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| Media Name | File Type | Date | Description | |
| notes_with_russell_and_talking_numbers.jpg | Image/JPEG | 2/20/2018 | Notes from a 2 hour meeting with Russell and Steve on how to convert AFB into the main adilas system. They have grown quite big and powerful and it is getting somewhat messy. | |
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Notes:
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On a Zoom session with Steve and Russell. Our original goal was to talk about upping the percentage for Russell and AFB from 3% of gross sales to 6% of gross sales. This was to help get Russell more onboard and helping us on more internal projects. As we got into things, the whole subject expanded and we got into somewhat of a heated discussion on who owns what, who gets to claim what, and how to make the transition as smooth as possible. I don't know if we meant it or not, but a number of the topics ran deep and had an underlying theme of AFB vs Adilas and how to virtually buyout AFB so that we could all go forward together, as the same team. See the attached graphic for some of the topics of the conversation. These are in no special order, but here are some of the subjects: - We could split the 6% in any way that was needed... 1% for Chris, 5% for Russell, 3% for AFB, 3% for Russell, or any other combo. - Russell wanted to know what our plan was for either an investment or a buyback or payback for pieces and projects that have been completed. - We talked about possible options of putting some of the investment monies on the balance sheet and how that would work. Bascially, AFB would have to invoice Adilas for the sale of certain features and then Adilas would have to have that as a short-term payable or a long-term payable. - We talked about how to possibly treat water under the bridge (real monies and invested time). We also talked about how to treat future projects and investments. - Steve made the comment - This is a long term play. - There was tons of talk about what has been gained by the existing relationship. This took on many forms and talked about physical monies changing hands, training, tools, business benefits, our system and providing services to Chris Johnnie without being paid for those services, and many other topics. - We went over some of the early promises that were made and/or implied by Brandon, back in early 2015. Some of those subjects were: you guys build it, you can keep it. You guys can have free systems and free access to the new tools, and how to we treat Chris? Is he part of the family or is he an outside investor? - We talked about ways that Russell thought that things could be settled. Some of these were different topics, but just listed here for reference: Some kind of a virtual buyback or buyout to help Chris with his investments, Free systems and non-3rd party tools for X number of years (small limits), If new systems come on, what does that mean?, At what point do we reach a virtual payout or buyback?, And maybe setting a limit on the free systems and tools to the existing 5 systems. - We also talked about how much of a monthly service Chris is getting by being able to use the system for free currently. We estimate that he is getting close to $1,000 a month worth of free services. There were a number of other topics, but that is a small recap. The meeting ended still lightly hot and we determined that we would meet again and try to come to a decision. Everybody is running hard and there are some outside variables that were adding to the stress. |