Any licensing of Vibestop for snowsports uses or possibly surf and watersports in the future will flow the Renoun’s P&L. That revenue will be part of the profits and valuation that unit (share) holders will ultimately benefit from as part of their equity holding.

On the crowdfunding raise, we had to work within the rules of Net Capital which did not allow direct giveaways. However we did publish an Investor perk sheet for larger investments and we can now extend that to any investors that came in at the levels described in the perks.

We expect that once we develop and deploy our current strategic solutions to drive growth that Renoun will not need to raise additional capital to meet our 3-year strategic plan and it will be self-funding. We will examine capital needs again after we complete our 3 year growth initiatives.

The seasonality of the ski business has a particular price curve to it. One of our strategic goals through Club Renoun is to flatten that curve and reduce price as a factor driving demand and the end-of-season sale process. While it can not be completely eliminated, our customer targeting strategy, journey mapping and data analytics will allow us to reduce the price curve due to better customer acquisition strategies. 4, Renoun's customer-focused business model builds the brand through best-in-class customer experience and product excellence. By stressing the exclusivity and uniqueness of the brand that comes from having skis that perform at the highest levels of the industry, financial metrics that do not require us to be all things to all skiers, and having technology that no other company can duplicate, brand will be the most valuable asset Renoun has. As such there are pricing strategies and promotion campaigns that this company will avoid because they will damage the brand.

At the stage Renoun is in right now we have two priorities - grow the top line and maintain positive cash flow. It is that basic.

RH is a partnership between New Technology Ventures and Golden Opportunity Consulting (GOC & NTV). These companies have launched over a dozen Special Purpose Investment Vehicles (SPVs), such as RH, and we have a good sense of what structures are attractive to accredited investors, which are an important component to this deal. The RH-SPV was newly and specifically created to be the holding company for the Renoun Ski investment. RH has no plans to grow itself. All value that would flow to RH and its investors solely comes from its ownership in Renoun Skis.

The Renoun BoD currently consists of Cyrus (Founder), Rob Golden (CEO & architect of the new customer-focused business model), Chris Whalen (Partner at New Technology Ventures) and me (Chairman & Co-Manager of Renoun Holdings). We expect there will be a 5th member – one that the other members collectively believe can bring unique skills/value to the company. We will recruit such new board member in due course. It is expected and desired to be the representative of a strategic partner, but of course we will respect the terms of someone who shows up with a large investment.