WS7 · Investor Relations Delivered Sprint AC-2

EPIC-01

Investor Brief v2.0 — AU-First Base Case + NZ Expansion Optionality + Live Sensitivity Sandbox

Owner (Accountable)

Mathew Punter (IR voice) · Carla Oliver (CFO/PMO accountable)

Consulted

Corrina McGowan (WS1 · marketing narrative) · Counsel (WS4 · forward-looking disclosures) · AI agent team (CTO/EA/SA delivery)

Steerco Links

D110 · D116

Depends On

EPIC-01a-NZ-research

Context

The current /investors/memorandum is authored against the v1.0 model (flat 15% take, $1,200 membership, 70/30 Foundation split). The v1.2 model ratified in the working session of 2026-07-04 and captured in FOUNDATION_MODEL_v1_2_PROPOSAL.md (commit ca7da3c) supersedes this: hybrid 1% baseline + 14% CM-vertical take, $1,500 membership, 80/20 Foundation split (80% local / 20% platform-voted), Rule 4 consent-capture on referral. Investors need to see the pitch under the v1.2 model.

Additionally, Mr Punter is presenting to investors in Australia and New Zealand. Codebase market-sizing today is AU-only (TPB, MFAA, ASIC, NIBA, ARNECC — all AU regulators). The pitch must show AU as the demonstrable base case (Phase 1-2) and NZ as expansion optionality (Phase 3+), with NZ numbers explicitly labelled Forward-Looking - Sourced Estimate until Sprint AC-1 source-hardening lands.

The Chair (Ms Oliver) directed on 2026-07-04 that the investor pitch must include a live sensitivity sandbox — Mr Punter dials commission (1%-15%) and community give-back (0%-100%) in the room, showing investors how the movement affects platform net revenue, community pool, and shareholder cash. This converts a static slide into a conversation tool.

Outcome Statement

A production investor pitch surface, live at cosaiflip360.org, that Mr Punter can present in an AU or NZ investor room with (a) narrative deck against the v1.2 model, (b) live 4-slider sensitivity sandbox, (c) unit economics tables showing RRP capture-ceiling vs achievable-case (base 3% SOM), and (d) NZ expansion optionality section with forward-looking labels. Every regulator-sourced number defensible under EA Rule 1.

Sub-Epics

EPIC-01a · Sprint AC-2 (Path B)

NZ Market Sourcing Research Sprint (Delivered)

NZ · Phase 3 (Forward-Looking)

Acceptance criteria

FMA (Financial Markets Authority NZ) practitioner counts sourced — verified on prod: 9,197 FMA-registered financial advisers engaged by 1,553 licensed FAPs (30 Jun 2025 regulatory returns)
FSPR (Financial Service Providers Register) statutory register documented (linked from FAP row) — verified
REA (Real Estate Authority NZ) counts sourced — verified on prod: 15,460 active licences (30 Apr 2024), split into 13,500 residential (sourced) + 1,470 commercial (modelled) + 490 branch managers
NZLS (New Zealand Law Society) count sourced — verified on prod: 17,504 practising certificates at 30 Jun 2025 (16,119 NZ + 1,385 overseas); 6,450 property/commercial referral-active. NZ conveyancing subsumed under legal practice per Lawyers and Conveyancers Act 2006
IAA (Immigration Advisers Authority) count sourced — verified on prod: 1,316 licensed advisers (30 Jun 2023)
CoFI Act (Financial Markets (Conduct of Institutions) Amendment Act 2022) compliance surfaced in Regulatory Scaffolding block — verified
Charities Services (DIA NZ) count sourced — verified on prod: 29,208 registered charities (2024/25 sector snapshot); Foundation-arm registration pathway documented
RBNZ published AUD/NZD FX rate integration point documented in NZ_SOURCES (nz-rbnz-fx) — refresh cadence per Steerco (D-SEQ-04)
Stats NZ population baseline sourced: 5,324,700 resident population at 30 Jun 2025 (provisional)
CA ANZ trans-Tasman membership documented (140,590 members 2025; NZ share ~30,000 modelled as sourced=false with transparent note)
PROFESSIONS_NZ export live in src/data/market-sizing.ts (via re-export barrel from src/data/nz-sources.ts) — 9 rows, 4 regulator-sourced (~44% coverage by row count; higher by headcount)
Every NZ number marked sourced=true iff regulator-published; sourced=false rows render with FWD pill per EA Rule 1 court-defensibility
/investors/brief-v2 §NZ Optionality section rewired: regulator badge on FMA + REA + NZLS + IAA rows; FWD pill retained on 5 modelled rows
NZ bibliography section with 12 regulator citations + live URLs rendered on prod — verified
18%-of-AU proxy retained only as sensitivity-sandbox slider default (nzPopulationRatio); §NZ Optionality table now consumes PROFESSIONS_NZ directly

Routes

/investors/brief-v2#nz-optionality

Files

src/data/nz-sources.ts (new — 367 lines, 12 NZ_SOURCES + 9 PROFESSIONS_NZ + 8 NZ_REGULATORY_SCAFFOLD items) src/data/market-sizing.ts (barrel re-export of NZ types + helpers) src/routes/investors-brief-v2.tsx (nzOptionalitySection rewired to regulator-anchored counts)

Path B delivered under Sprint AC-2 following Path A + Path C. Regulator-anchored rows: FMA financial advisers (9,197), REA residential real estate (13,500), NZLS lawyers property/commercial slice (6,450), IAA immigration advisers (1,316). Modelled rows retained with FWD pills: NZ mortgage advisers, commercial RE split, property managers, CA ANZ NZ share, building inspectors (no NZ regulator equivalent for building inspectors — no ANZSCO 312113 sister register).

EPIC-01b · Sprint AC-2

Investor Brief v2.0 — Narrative Deck v1.2 Model (Delivered)

AU · Phase 1

Acceptance criteria

Route /investors/brief-v2 live on prod — HTTP 200 confirmed (93,096 bytes)
v1.2 Foundation Model overlay: hybrid 1% baseline + 14% CM-vertical = 15% take (verified in prod HTML)
$1,500 membership fee constant rendered (verified)
50% Foundation share, 80% local pool, 20% platform-voted split (verified in prod HTML)
Rule 4 consent-capture principle rendered in v1.2 model card
Additive-route discipline: /investors (v1.0) untouched — HTTP 200 preserved
Soft-gate reused: ?key=flip360 → sessionStorage (mirrors /investors gate)
Sources footer with SOURCES bibliography from market-sizing.ts (regulator hyperlinks live)

Routes

/investors/brief-v2

Files

src/routes/investors-brief-v2.tsx (new — additive discipline, not extension of investors.tsx)

SA architectural call: isolated new-file route rather than modification of investors.tsx, for clean rollback (revert 08cb155) and minimal blast radius. Sprint AC-2 delivered under commit 08cb155, deploy 91dd0489.flip360.pages.dev.

EPIC-01c · Sprint AC-2

Live Sensitivity Sandbox — 4 Sliders (Delivered)

AU + NZ combined

Acceptance criteria

Slider s-take (commission take 1%-15%, default 15%) live in prod HTML
Slider s-giveback (community give-back 0%-100%, default 50%) live in prod HTML
Currency toggle AUD ↔ NZD live (× audNzdRate 1.09) with recompute
Geography toggle AU ↔ AU+NZ live (adds nzPopulationRatio 0.18 uplift)
Live outputs stack rendered: SOM revenue, Foundation pool, local pool (80%), platform-voted (20%), platform net
5-year revenue trajectory bar chart recompute on any slider change
Reset-to-baseline control returns sliders to v1.2 anchor positions
Hazard R-SANDBOX-01 mitigation: 50% anchor line visible on giveback slider

Routes

/investors/brief-v2 (sensitivity section)

Files

src/routes/investors-brief-v2.tsx (sensitivitySandboxSection)

Delivered as integrated section within /investors/brief-v2 rather than separate /investors/pitch-sandbox route — SA call to consolidate the investor pitch surface into one soft-gated URL for AC-2. Stage-optimised dark-theme variant deferred as backlog for post-AC-2 IR review.

EPIC-01d · Sprint AC-2

Unit Economics Tables — RRP Capture-Ceiling vs Achievable Base Case (Delivered)

AU · Phase 1

Acceptance criteria

18-profession Ceiling vs Base Case table live on prod (29 rows in section)
Distinct RRP values rendered per profession (spot-verified $1,950 mortgage-broker, $4,800 residential RE, $8,000 commercial RE)
Group headers rendered: Finance, Property (3x), Inspection, Professional, Trades (2x)
Delta column shows Ceiling − Base gap per row
Regulator source hyperlinks live per row (TPB, MFAA, MoneySmart, ARNECC, InTheBlack CPA)
D-SEQ-05 discipline preserved: brief-v2 is 4th consumer of shared referral-fee-rrp.ts SoT
Explanation strip: ceiling = TAM at RRP, base = SOM with penetration
DIRECT ANSWER to Mr Punter multi-referral-fees diagnostic (Turn 4 question) — blended $200 abandoned in favour of distinct P per profession

Routes

/investors/brief-v2 (unit economics section)

Files

src/routes/investors-brief-v2.tsx (unitEconomicsSection)

EPIC-01e · Sprint AC-2

NZ Expansion Optionality Section (Delivered)

NZ · Phase 3 (Forward-Looking)

Acceptance criteria

Section id="nz-optionality" live on prod
Forward-Looking labelled banner rendered (pill-forward + FWD + Forward-Looking all verified)
nzPopulationRatio 0.18 constant applied for AU→NZ market-size proxy
audNzdRate 1.09 constant applied for AUD→NZD FX
Regulatory scaffolding listed: FMA, FSPR, CoFI, DIA (Charities Services NZ)
Trans-Tasman synergies section rendered
EA Rule 1 (court-defensibility) preserved: every NZ number is either regulator-anchored (Regulator badge) or FWD-pill labelled — EPIC-01a delivered Path B
Cross-link to EPIC-01a: source-hardening delivered (Sprint AC-2 Path B); 4 of 9 NZ profession rows now regulator-published

Routes

/investors/brief-v2 (NZ optionality section)

Files

src/routes/investors-brief-v2.tsx (nzOptionalitySection)

Hazards

R-NZ-01
R-NZ-02
R-NZ-03
R-SANDBOX-01
R-SANDBOX-02

Ratification note for SC#3 chair

For SC#3 chair (2026-07-06): EPIC-01 sub-epics 01b + 01c + 01d + 01e delivered under Sprint AC-2, commit 08cb155, deployed 91dd0489.flip360.pages.dev/investors/brief-v2?key=flip360 — HTTP 200 confirmed (93,096 bytes). EPIC-01a (NZ source hardening) also delivered under Sprint AC-2 (Path B): src/data/nz-sources.ts (new, 367 lines) with 12 NZ regulator sources + 9 PROFESSIONS_NZ rows (4 regulator-anchored) + 8 NZ_REGULATORY_SCAFFOLD items; §NZ Optionality section rewired to consume regulator-anchored counts (FMA 9,197 advisers, REA 15,460 licensees, NZLS 17,504 lawyers, IAA 1,316 immigration advisers). FWD pill retained only on modelled rows. Additive-route discipline preserved: /investors, /investors/memorandum, /investors/financial-model all still HTTP 200 (untouched). Three-destination audit trail complete (sandbox 08cb155 + Path-B commit · GitHub origin/main · Cloudflare prod). D-SEQ-05 preserved: brief-v2 is 4th consumer of shared referral-fee-rrp.ts SoT. Multi-referral-fees diagnostic answered by 01d (18 distinct P values per profession, blended $200 abandoned). Path B closes the last remaining Rule 1 hazard on the investor brief — the 18%-of-AU proxy is now replaced with regulator-published counts for the four largest NZ professions.

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