Over the last few weeks there has a been a lot of activity and Greg and I wanted to share all the news and updates with our members. 
With the assistance of Bill Asher, our organization has been brought current by filing annual reports and other documents as required by the State of Massachusetts.  This cleared the way for Greg Fell and I to be formally recognized as co-managers of the IC. This enabled Greg to open a new business account with Chase bank. Jere O’Sullivan will arrange the balance of our treasury to be transferred to this account enabling Greg and I to gain control over the funds. 
In February we conducted a few meetings with the newly formed permanent steering committee (PSC) as provided by the Amendment. In addition to Greg and myself, the members of this committee are:

• Bill Asher
• Staffan Ericsson
• Norm Jacknis
• Eric Kagan
• Mark Modzelewski
• Steve Young

This team has already accomplished a great deal. We have arranged for our tax return and K1s to be prepared by our accounting firm. Norm is migrating all the active documents from Drop Box to a new file store and we will make it available to all members as soon as it is complete. We discussed the current portfolio and have assigned one of the PSC members to monitor and report on each existing investment going forward. This information will be posted to the new file store as well. 
Bill drafted the attached agreement for those members who expressed a desire to withdraw. We are sorry it took this long and we hope you will consider staying with the group. Review and sign it if you still want to withdraw. The terms are clear and upon receipt you will be excluded from future investments. You will receive a check and a statement of your current holdings. 

Finally, we have jumped back on the horse and conducted due diligence on a new, potential investment. TSU is a new social network with a unique value proposition and business model with the promise of a very good return. We are finalizing documents and have a placeholder for a modest investment in the company. You will not be included in this investment if you withdraw from the group.
Greg and I continue to be excited about the IC and look forward to continuing our work with the PSC, and our existing members as well as new members.