# Capital Reconciliation — REV 9.5 / 7.7 (Single Table)

**Effective:** May 30, 2026 · **Phase 1A Partnership Pool** supersedes ≤$550K-only cap when pool closes.

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## Authoritative Phase 1A stack (investor + bank + owner)

| Source | Amount | Notes |
|--------|--------|-------|
| **Phase 1A Partnership Pool** | **$1,000,000** | **12% Class A** · **Phase 1A Capital Partners** |
| CRE construction loan (target) | **$450,000** | **Must be re-sized in Week 1** to REV 9.5 shell |
| Equipment financing (Doc 46) | **$243,000** | Owner off–Mirage LLC balance sheet |
| Vendor founding (20 × $5K) | **$100,000** | Not pool capital |
| Container lease-to-own (Scope E) | **~$64,000** | ~$2.2K/mo |
| **Total deployed** | **~$1.857M** | |

**Ownership target (pre-counsel):** **88%** founder/owner · **12%** Class A pool.

**Implied post-money:** **~$8.33M** ($1M ÷ 12%).

**Five-year model:** [FIVE-YEAR-INVESTOR-PROJECTIONS.md](./FIVE-YEAR-INVESTOR-PROJECTIONS.md)

**Fallback:** ≤ **$550,000** partner cash (Doc 59) only if **$1M** pool does not close.

**Lean execute (May 30, 2026):** [LEAN-PHASE-1A-CAPEX-TRIM-LOCK.md](./LEAN-PHASE-1A-CAPEX-TRIM-LOCK.md) — **~$1.47M–$1.53M** deployed · Version 2 + **metal/roll-up front (no grand glass)** + commissary · phase vendors 7–18 and 3 side boxes to 1B.

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## Critical budget action (before LOI or GC award)

Doc 44 Scope B was sized for **L-core PEMB ~3,040 SF**. REV 9.5 adds Maison **120′×80′**, **50′×50′** Type I commissary, **8** containers, **full NFPA 13**, civil **300** stalls. **Week 1:** re-scope CRE to REV 9.5 geometry.

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## Year 1 revenue — use with channel rules

**Base case (Doc 44):** ~**$8.1M** revenue · ~**$3.2M** operating profit — **not guaranteed**.

**Downside case:** ~**$4.5–$5.5M** revenue · materially lower profit — see five-year doc.

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## Files updated

- `website/investors.html` · `investors-deck.html` · `index.html`
- `docs/FIVE-YEAR-INVESTOR-PROJECTIONS.md`
- `04-OWNER-CAPITAL-EXECUTION/49-PARTNER-CAPITAL-TERM-SHEET.md`