Mytaverse · Board Meetings

Board Update Call

Wednesday · April 29, 2026 · ~60 min

SAFE 4

$1.3M

Confirmed · target $1.5M

AWS Milestone 2

$900K

Awaiting payment · May

Pipeline

FedEx · Geneva

Both in advanced stages

Emirates

LIVE

All tracks active

Runway

~8.8 mo

$1.76M ÷ $200K burn

Q1 2026 Net Income

+$670K

EBITDA $942K · best quarter

SAFE 4 · Fundraising

Fundraising dashboard ↗ 15 min

$1.3M confirmed in the SAFE 4 round at $18M cap / 10% discount. No blockers. Question for the board: close at $1.5M, or wait to push for $2M?

Status snapshot

$1.3M confirmed Stretch: $1.5M Reach: $2M $18M cap · 10% discount No blockers

My concern

Waiting has a cost — already lost ~$250K from investors who walked while we held the round open.

Proposed plan

Start closing tomorrow — receive funds from all confirmed investors (including BC).
Keep the round open 60 more days to capture additional commitments without holding signed money hostage.

Board ask

Close at $1.5M, or wait for $2M?
Comfortable with the "close now + keep open 60 days" approach?

Other / Notes

Saved

AWS · Milestone 2

5 min

Awaiting payment of Milestone 2: $900K, expected in May. Flows directly into the runway model below.

Status

$900K · payment pending Expected: May 2026

Discuss

Confirm AP timing on the AWS side.
Anything we need to push to keep payment on schedule?

Other / Notes

Saved

Pipeline

CRM ↗ FedEx proposal ↗ 15 min

Two deals in advanced stages this week: FedEx (Courier Onboarding) and Geneva Police.

Advanced-stage deals

FedEx · readout week of May 4 ↗ Geneva Police · demo May 12

Discuss

FedEx: SME discovery complete across all 4 use cases. Readout led by Shannon Arnold & Melissa Oakley week of May 4. Awaiting Courier100 decks (Day 1 & 2), JD, Learning Journey visual, SOPs.
Follow up with Eric Cheng on outstanding FedEx materials by May 3; finalize proposal after readout.
Geneva Police: demo confirmed May 12.
Board intros / support needed on either?

Other / Notes

Saved

Emirates

5 min

Live on Mytaverse with all tracks active. Name & logo permission request is in process; PR strategy is queued behind the approval — this is a major PR moment when it lands.

Status

LIVE — all tracks active Name & logo · permission in process PR · pending approval

Discuss

Status of Emirates name & logo permission — who is the decision-maker?
Target timeline for approval and PR announcement.
Board input on PR positioning / channels.

Other / Notes

Saved

Cashflow & Runway

10 min

$200K in bank today, with $1.56M of near-term receivables landing in the next ~30 days. At a $200K monthly burn, that's ~8.8 months of runway — before any new SAFE 4 closes or new bookings.

In bank today

$200K

This week · AWS / EK licensing

$660K

Through end of year

May · AWS Milestone 2

$900K

Total cash + receivables

$1.76M

Monthly burn

$200K

Runway

~8.8 months

$1.76M ÷ $200K · excludes new SAFE / bookings

Discuss

Confirm timing on the $660K AWS / EK licensing inflow this week.
Confirm AWS Milestone 2 ($900K) hits in May.
Burn assumptions stable at $200K? Anything that changes that in the next two quarters?
Given ~9 months runway, does that change the SAFE 4 close decision?

Other / Notes

Saved

Financial Results · Q1 2026

5 min

Strongest quarter on record. Q1 2026 revenue of $1.14M matched 56% of full-year 2025 in a single quarter. Operating income, net income, and EBITDA all swung to strong positive — driven by the $900K AWS Milestone + steady licensing.

Revenue

$1.14M

FY25: $2.04M (full year)

Gross Profit

$1.11M

~97% gross margin

Operating Income

+$623K

FY25: −$886K

Net Income

+$670K

FY25: −$890K · turnaround

EBITDA

+$942K

FY25: $352K · 2.7× full year in 1Q

Total Expenses (Q1)

$482K

Personnel $96K · G&A $386K

Cash · End Q1

$222K

$900K AWS sits in AR · collects in Q2

Revenue mix · Q1 2026

AWS Milestone · $900K Licensing · $238K Professional Services · $0

Highlights to call out

First profitable quarter at scale: $670K net income, $942K EBITDA — vs. $890K loss for full-year 2025.
Revenue concentration risk: $900K of $1.14M (~79%) was the AWS Milestone — diversification is the goal for Q2/Q3 (FedEx, Geneva).
Cash conversion lag: profit is on the books but $900K AWS sits in AR — actual cash drops to $222K end-Q1 until AWS pays in May.
Software dev capitalization: $373K invested in Q1 (Income Statement excludes; goes to Balance Sheet).

Discuss

Confirmation on AWS M2 collection timing (drives cash position back above $1M).
Q2 outlook: licensing trajectory + FedEx/Geneva contribution.
Anything in the Q1 numbers the board wants drilled into?

Other / Notes

Saved

Legal

5 min

EPAM Alliance: received the document for a strategic alliance for GTM. Randy Ochs: signed. Need a board decision on Jaime Lopez today.

Status

EPAM · GTM strategic alliance doc received Randy Ochs · signed Jaime Lopez · DECISION NEEDED

Discuss

EPAM Alliance: review GTM terms, identify any redlines, target signature timing.
Randy Ochs: signed and active on Deel — no action.
Jaime Lopez — board to make a decision today on how to proceed.

Other / Notes

Saved

AOB / Wrap (Any Other Business)

5 min

Catch-all for items not on the formal agenda. Capture action items with owners + dates, and confirm the next board call.

Other items / Action items

#	Item	Owner	Due
1
2
3
4
5

Notes captured from sections

0 notes saved

No notes saved yet. Click Save on any section's Other / Notes to flow it in here. Re-saving updates in place — no duplicates.

Next board call

Date: May 27, 2026 · 10:00 AM ET Saved

Scheduled (Mytaverse <> Blumberg Monthly Sync — last Wednesday)

May 27 · 10am ET Jun 24 · 10am ET Jul 29 · 10am ET Aug 26 · 10am ET Sep 30 · 10am ET Oct 28 · 10am ET Nov 25 · 10am ET Dec 30 · 10am ET

Board Update Call

Wednesday · June 3, 2026 · ~60 min

SAFE 4

$1.35M

Committed · 30 days for final close

AWS Milestone 2

PAID

$900K · received May 31

Pipeline

Emirates · Amazon · Geneva · Ambev · Latam

+ FedEx into commercials

Emirates

LIVE · Expanding

MetaPlexus UE plugin in motion

Cash on hand

~$2.6M

12+ months at current burn

Runway with inflows

~24 mo

+ $1.8M AWS SCA + EK '27 + new clients

SAFE 4 · Fundraising

Fundraising dashboard ↗ 10 min

$1.35M committed in the SAFE 4 round at $18M cap / 10% discount. 30 days remaining for the final close. Additional interest in motion that may bring it higher.

Status snapshot

$1.35M committed 30 days to final close Additional interest in motion $18M cap · 10% discount

Where we are

Round closed at $1.35M of committed capital.
Wires in from all but 2 investors.
Active outreach on additional interest that has not yet committed. Will inform of any additional in the next meeting.

Board ask

Any board intros in the next 30 days for the remaining capacity?
Comfortable closing at $1.35M+ inside 30 days, or push the window further if a $1.5M-$2M target is reachable?

Other / Notes

Saved

AWS · Milestones

5 min

Milestone 2 ($900K) paid on May 31. Milestones 3 and 4 ahead, both sales-driven (tied to enterprise customer signings). The Amazon Immersive Council POC ideation (covered in Pipeline) is the most direct path into M3.

Status

M2 · $900K PAID May 31 M3 · sales-driven · pending M4 · sales-driven · pending AWS Co-Sell motion · active

Discuss

M3 milestone trigger: confirm exact criteria + customer signing requirements.
AWS ACE program lead management — requirement to introduce all leads into the AWS ACE tool. In progress.

Other / Notes

Saved

Pipeline

CRM ↗ FedEx proposal ↗ 20 min

Three named accounts moving this period. FedEx into ROI quantification and commercials. Amazon Immersive Experience Council (Amazon the parent company, not AWS) EU lead pushing a POC of MetaPlexus as Amazon's unified immersive training platform. Geneva Police demo to Chief + Deputy Chief scheduled post-G7.

Advanced-stage deals

FedEx · ROI exercise · meeting next week ↗ Amazon Council · POC scoping ASAP Geneva Police · demo post-G7

FedEx

May 11 executive readout went exceptionally well.
Senior executives asked Sean to run one more exercise with the Mytaverse team to identify and quantify ROI. Our side is complete; Sean is populating the Excel with the data and bringing it back this week.
Follow-up meeting being scheduled for the week of June 8 to agree on next steps and look at commercials.
Juan Cento continues to support the relationship.

Amazon · Immersive Experience Council

To be clear: this is Amazon the parent (ecommerce, retail, logistics), not AWS the cloud business.
The Council lead for EU met with us. He was impressed enough that he started ideating in the room how MetaPlexus could become Amazon's single unified platform for immersive training across the entire company.
Today Amazon has multiple vendors, multiple platforms, different entry points, different UI and UX, mostly running on non-AWS clouds, all SaaS with none self-hosted.
He asked for a POC ASAP and invited his US counterpart to the next meeting.
We are scoping which existing use case to build as the POC.
If this lands, AWS benefits too — Amazon migrating to MetaPlexus pulls more workload onto AWS.
Board input on POC use case selection, and intros into Amazon US Immersive Council leadership.

Geneva Police

Working closely with Patrick, head of innovation at Geneva Police, key driver for a joint demo to the two decision makers: Chief of Police and Deputy Chief.
Demo scheduled for right after the G7.
First use case is a virtual Museum of the History of the Geneva Police with training built in. Police HQ follows as second and third use cases. Bilingual EN/FR.

AWS joint pipeline (16+ targets)

The joint pipeline of 16+ large enterprise targets continues to advance behind the named accounts.
Board ask: anyone on the board with a strong tie into the Amazon Immersive Council US side?

Other / Notes

Saved

Emirates

10 min

Live and in active expansion discussions. The angle is the upcoming MetaPlexus Unreal Engine plugin to extend use cases inside Emirates. Two-fold benefit: separate AWS Marketplace license, and more active users boosting EK licensing in years 3, 4 and 5.

Status

LIVE — all tracks active Expansion · in flight MetaPlexus UE plugin · upcoming AWS Marketplace · separate licensing

Discuss

Plugin licensing structure (per-seat economics, AWS Marketplace cut, EK enterprise agreement integration).
Timeline to plugin launch and EK adoption window.
Impact on EK contract years 3, 4, 5 from increased active users.
Name & logo permission status — who is the final decision-maker on the EK side?
Board input on PR positioning once permission lands.

Other / Notes

Saved

Cashflow & Runway

5 min

~$2.6M in the bank today = 12+ months of cash at current burn before any further inflows. Layered on top: $1.8M of AWS SCA still ahead (M3 next 6 mo, M4 next 18 mo, $900K each), $50K/month of EK licensing starting 2027, plus any new customer cash. Total runway: ~24 months — plenty of time to deploy MetaPlexus and secure the customers we need to become cashflow-positive.

Cash on hand · today

~$2.6M

12+ mo at current burn

AWS SCA · M3

$900K

In sight · next 6 months

AWS SCA · M4

$900K

In sight · next 18 months

EK additional licensing

$50K / mo

Starting 2027

Monthly burn

$200K

Confirm at this call

New customer cash

Upside

FedEx · Amazon POC · Geneva · pipeline

Total runway

~24 months

Plenty of time to deploy MetaPlexus + reach cashflow-positive

Discuss

Confirm $200K burn assumption remains intact (post-Brian, ongoing tech team load).
Break-even comes earlier than the original 6-customer plan. Under the new strategy (Mytaverse Studio + licensing) we believe break-even is reached with a lot less than 6 enterprise customers — a portion of the cashflow will also come from professional services. Discuss the updated customer count needed against the 24-month runway.
Reinvestment levers: where do we deploy ahead of new bookings (sales hires, AWS Marketplace investment, plugin engineering)?
Board view: hold cash for resilience, or accelerate hiring against the Amazon Council POC opportunity?

Other / Notes

Saved

Financial Results · May 2026

5 min

May actuals not yet closed. Q1 ended at $1.14M revenue — the strongest quarter on record. Q2-to-date will reflect the AWS M2 payment ($900K) booked in May plus ongoing licensing.

Q1 2026 Revenue (reference)

$1.14M

Best quarter on record

Q2 to date

In progress

AWS M2 booked + licensing

May close

Pending

Target window — confirm at this call

Discuss

May close timing — when do we expect actuals in hand?
Q2 outlook: licensing trajectory + any Q2 contribution from FedEx commercials closing.
Anything to flag pre-emptively to the board on Q2 shape?

Other / Notes

Saved

Legal

5 min

EPAM Alliance GTM progress, Randy Ochs onboarded and active, plus emerging contract structures around the Amazon Immersive POC and the MetaPlexus UE plugin marketplace path.

Status

EPAM Alliance · GTM in progress Randy Ochs · signed and active Amazon POC · contract structure TBD MetaPlexus plugin · marketplace agreement

Discuss

EPAM Alliance signature timing.
Amazon POC contract structure — who owns the deal flow if POC converts (Mytaverse direct, AWS resell, or Amazon enterprise agreement)?
MetaPlexus UE plugin marketplace agreement — separate licensing path through AWS Marketplace.
Board input on POC contracting posture with AWS.

Other / Notes

Saved

AOB / Wrap (Any Other Business)

5 min

Catch-all for items not on the formal agenda. Capture action items with owners + dates, and confirm the next board call.

Other items / Action items

#	Item	Owner	Due
1
2
3
4
5

Done since last board call (Apr 29)

Items marked resolved in the Follow-up tab between Apr 29 and this call.

No items have been marked resolved yet. Open the Follow-up tab to mark Apr 29 action items as resolved — they'll show up here automatically.

Still open from Apr 29

Items not yet resolved as of this call. Discuss or re-assign.

No carry-forward items. Either everything was resolved, or the Apr 29 meeting hasn't been ended yet.

Next board call

Date: Jun 24, 2026 · 10:00 AM ET Saved

Scheduled (Mytaverse <> Blumberg Monthly Sync — last Wednesday)

Jun 24 · 10am ET Jul 29 · 10am ET Aug 26 · 10am ET Sep 30 · 10am ET Oct 28 · 10am ET Nov 25 · 10am ET Dec 30 · 10am ET

Follow-up · Action Tracker

No meetings have ended yet

Open Items 0

Resolved · this period 0

Notes captured · all sections 0

Board Update Call

SAFE 4 · Fundraising

My concern

Proposed plan

Board ask

Other / Notes

AWS · Milestone 2

Discuss

Other / Notes

Pipeline

Discuss

Other / Notes

Emirates

Discuss

Other / Notes

Cashflow & Runway

Discuss

Other / Notes

Financial Results · Q1 2026

Highlights to call out

Discuss

Other / Notes

Legal

Discuss

Other / Notes

AOB / Wrap (Any Other Business)

Other items / Action items

Notes captured from sections

Next board call

Board Update Call

SAFE 4 · Fundraising

Where we are

Board ask

Other / Notes

AWS · Milestones

Discuss

Other / Notes

Pipeline

FedEx

Amazon · Immersive Experience Council

Geneva Police

AWS joint pipeline (16+ targets)

Other / Notes

Emirates

Discuss

Other / Notes

Cashflow & Runway

Discuss

Other / Notes

Financial Results · May 2026

Discuss

Other / Notes

Legal

Discuss

Other / Notes

AOB / Wrap (Any Other Business)

Other items / Action items

Done since last board call (Apr 29)

Still open from Apr 29

Next board call