[sheet: Invoice]
Field | Value
INVOICE
Invoice Date | October 30, 2023
Invoice Number | INV-1008-00003-FINAL
FROM:
Firm Name | Calderwood & Harkness LLP
Address | 555 California Street, 30th Floor, San Francisco, CA 94104
Billing Partner | George Trujillo
Responsible Partner | Patricia Dunmore
TO:
Client Name | Lumos Analytics Inc.
Client Address | 340 Folsom Street, Suite 1100, San Francisco, CA 94105
Attn | Danielle Okoye, CFO
Client EIN | 87-3491026
MATTER INFORMATION:
Matter Number | 1008-00003
Matter Description | SAFE Financing Round — Issuer's Counsel
Engagement Letter Date | August 21, 2023
Billing Period | August 21, 2023 — October 30, 2023
Invoice Type | Final Invoice — Matter Closed
FEE SUMMARY:
Total Professional Fees | $67,340.00
Total Disbursements | $1,245.00
Grand Total Due | $68,585.00
FEE CAP ANALYSIS:
Agreed Fee Cap (excl. disbursements) | $95,000.00
Professional Fees Incurred | $67,340.00
Remaining Under Cap | $27,660.00
Disbursements (outside cap) | $1,245.00
PAYMENT INSTRUCTIONS:
Payable To | Calderwood & Harkness LLP
Bank | Silicon Valley Commerce Bank
Payment Terms | Net 30 days from invoice date
[sheet: Timekeeper Summary]
Timekeeper | Role | Title | Billing Rate | Hours | Total Fees
Patricia Dunmore | Responsible Partner | Partner | $895.00 | 18.5 | $16,557.50
George Trujillo | Billing Partner | Partner | $895.00 | 6 | $5,370.00
Omar Siddiqui | Lead Associate | Associate | $525.00 | 52 | $27,300.00
Christy Bauer | Working Associate | Associate | $525.00 | 34.5 | $18,112.50
TOTAL | 111 | $67,340.00
[sheet: Rate Schedule]
Category | 2023 Billing Rate
Partners | $895.00
Associates | $525.00
Paralegals | $295.00
[sheet: Disbursements]
Date | Description | Category | Amount
2023-09-11 | Delaware Secretary of State — Good Standing Certificate request (Lumos Analytics Inc., File No. 7394821) | Filing Fees | $175.00
2023-09-12 | Courier — executed SAFE documents to Vantage Peak Ventures | Courier | $85.00
2023-09-22 | Courier — executed SAFE documents to Ridgeline Angel Fund | Courier | $85.00
2023-09-29 | Courier — executed SAFE documents to Canopy Growth Capital | Courier | $85.00
2023-10-16 | Long-distance teleconference charges — multiple calls with Whitfield Harte & Associates LLP | Long-Distance | $45.00
2023-10-19 | Courier — response letter to Whitfield Harte & Associates LLP | Courier | $85.00
2023-10-27 | Courier — Mutual Termination & Release Agreements (3 sets) | Courier | $255.00
2023-10-28 | Filing / document production — wire transfer instruction letters | Filing Fees | $50.00
2023-10-30 | Closing memorandum production and binding | Reproduction | $380.00
TOTAL DISBURSEMENTS | $1,245.00
[sheet: Time Detail]
Date | Timekeeper | Title | Hours | Rate | Amount | Task Description
2023-08-21 | Patricia Dunmore | Partner | 1 | $895.00 | $895.00 | Review and finalize engagement letter for Lumos Analytics Inc. SAFE financing round; initial client call with P. Narasimhan and D. Okoye regarding round structure and $6,800,000 target
2023-08-21 | Christy Bauer | Associate | 1.5 | $525.00 | $787.50 | Conduct conflicts check for Lumos Analytics Inc. engagement; search firm databases for Vantage Peak Ventures Fund II, L.P., Ridgeline Angel Fund, L.P., Whitfield Harte & Associates LLP, and related parties; prepare conflict check memorandum
2023-08-25 | Omar Siddiqui | Associate | 3 | $525.00 | $1,575.00 | Draft non-binding term sheet for SAFE round: $28,000,000 post-money valuation cap, no discount, MFN provision, pro rata side letter, information rights; circulate to P. Dunmore for review
2023-08-25 | Patricia Dunmore | Partner | 0.5 | $895.00 | $447.50 | Review and comment on draft term sheet for Vantage Peak Ventures
2023-08-30 | Omar Siddiqui | Associate | 2 | $525.00 | $1,050.00 | Prepare Board Written Consent for authorization of SAFE financing round (aggregate up to $6,800,000); coordinate with D. Okoye for board signatures
2023-09-01 | Omar Siddiqui | Associate | 0.5 | $525.00 | $262.50 | Review executed term sheet returned by Vantage Peak (signed by S. Reyes); confirm terms consistent with circulated draft
2023-09-02 | Omar Siddiqui | Associate | 1.5 | $525.00 | $787.50 | Prepare diligence request list for Vantage Peak counsel; draft email to J. Whitfield at Whitfield Harte & Associates LLP with timeline for SAFE drafting
2023-09-05 | Omar Siddiqui | Associate | 5 | $525.00 | $2,625.00 | Draft Post-Money SAFE (YC standard form, modified) for Vantage Peak: purchase amount $3,500,000, post-money valuation cap $28,000,000, no discount, MFN, conversion events (Equity Financing min $1,000,000, Liquidity Event, Dissolution Event), Delaware governing law
2023-09-05 | Christy Bauer | Associate | 3 | $525.00 | $1,575.00 | Assist with SAFE drafting; prepare initial capitalization table showing pre-round structure (8,600,000 issued shares, 1,200,000 equity plan reserve, pre-seed SAFEs at $8M cap) and pro forma ownership at conversion
2023-09-05 | Patricia Dunmore | Partner | 1.5 | $895.00 | $1,342.50 | Review first draft SAFE and capitalization table; provide comments; authorize circulation to Whitfield Harte
2023-09-08 | Omar Siddiqui | Associate | 2.5 | $525.00 | $1,312.50 | Review Whitfield Harte markup of SAFE received from M. Trost; prepare annotated comparison with internal comments on each proposed change
2023-09-09 | Omar Siddiqui | Associate | 3.5 | $525.00 | $1,837.50 | Draft internal memorandum to P. Dunmore analyzing Whitfield Harte markup: recommendations on MFN provision breadth, information rights scope, pro rata side letter structure
2023-09-09 | Patricia Dunmore | Partner | 2 | $895.00 | $1,790.00 | Review O. Siddiqui analysis memo on Whitfield Harte markup; discuss negotiation strategy; call with J. Whitfield to resolve key points on MFN and information rights
2023-09-11 | Omar Siddiqui | Associate | 4 | $525.00 | $2,100.00 | Prepare revised SAFE draft incorporating negotiated changes; draft pro rata rights side letter for Vantage Peak; circulate to Whitfield Harte as near-final version
2023-09-11 | Christy Bauer | Associate | 2 | $525.00 | $1,050.00 | Prepare Delaware Good Standing Certificate request letter (File No. 7394821); draft Secretary's Certificate for closing
2023-09-12 | Omar Siddiqui | Associate | 2 | $525.00 | $1,050.00 | Finalize and coordinate execution of Vantage Peak SAFE and pro rata rights side letter; confirm $3,500,000 wire received to Lumos operating account at SVCB (Acct. 8801-4427-3390); finalize Secretary's Certificate
2023-09-12 | Patricia Dunmore | Partner | 1 | $895.00 | $895.00 | Review final execution copies of Vantage Peak SAFE and side letter; confirm closing deliverables
2023-09-12 | George Trujillo | Partner | 0.5 | $895.00 | $447.50 | Review engagement billing status; confirm fee cap compliance
2023-09-15 | Omar Siddiqui | Associate | 2 | $525.00 | $1,050.00 | Prepare Ridgeline Angel Fund term sheet ($1,200,000 SAFE, same terms as lead); coordinate with D. Choi for execution
2023-09-22 | Omar Siddiqui | Associate | 3 | $525.00 | $1,575.00 | Adapt SAFE for Ridgeline Angel Fund execution ($1,200,000); coordinate execution and funding; confirm wire receipt
2023-09-22 | Christy Bauer | Associate | 1.5 | $525.00 | $787.50 | Prepare closing documents for Ridgeline SAFE; update capitalization table
2023-09-25 | Omar Siddiqui | Associate | 1.5 | $525.00 | $787.50 | Prepare Canopy Growth Capital term sheet ($1,100,000 SAFE, same terms); coordinate with L. Petrova
2023-09-29 | Omar Siddiqui | Associate | 3 | $525.00 | $1,575.00 | Adapt SAFE for Canopy Growth Capital execution ($1,100,000); coordinate execution and $1,100,000 wire; update pro forma cap table to reflect $5,800,000 total funded
2023-09-29 | Christy Bauer | Associate | 2 | $525.00 | $1,050.00 | Prepare closing documents for Canopy Growth SAFE; update capitalization table (pro forma showing 24.29% total new investor ownership)
2023-10-04 | Omar Siddiqui | Associate | 2 | $525.00 | $1,050.00 | Prepare Atlas Fintech Syndicate term sheet ($1,000,000 SAFE, same terms); coordinate with M. Greenfield; begin SAFE drafting
2023-10-04 | Christy Bauer | Associate | 1 | $525.00 | $525.00 | Assist with Atlas Fintech term sheet preparation
2023-10-12 | Omar Siddiqui | Associate | 4 | $525.00 | $2,100.00 | Draft internal memorandum analyzing disclosure obligations under SAFE information rights provisions in light of Prism Core v2.0 validation failure (61% accuracy vs. 92% target per Peralta IP Consulting report dated Oct 9, 2023); research Delaware law on issuer disclosure duties
2023-10-12 | Patricia Dunmore | Partner | 2.5 | $895.00 | $2,237.50 | Review disclosure obligations memo; draft email to P. Narasimhan advising prompt disclosure to SAFE holders of Prism Core v2.0 setback and 4–6 month remediation timeline; call with P. Narasimhan
2023-10-13 | Patricia Dunmore | Partner | 1 | $895.00 | $895.00 | Follow-up call with P. Narasimhan regarding disclosure to Vantage Peak; review CEO communication to S. Reyes
2023-10-15 | Omar Siddiqui | Associate | 1 | $525.00 | $525.00 | Review Vantage Peak request for return of $3,500,000 funds citing alleged material misrepresentation; initial analysis of SAFE termination provisions
2023-10-16 | Omar Siddiqui | Associate | 5 | $525.00 | $2,625.00 | Draft internal strategy memorandum analyzing SAFE termination provisions, contractual and equitable refund obligations, and potential misrepresentation exposure regarding 'beta-ready by Q4 2023' representations in pitch materials
2023-10-16 | Patricia Dunmore | Partner | 2.5 | $895.00 | $2,237.50 | Review and revise strategy memorandum; call with G. Trujillo regarding matter risk assessment and fee cap status
2023-10-16 | George Trujillo | Partner | 1.5 | $895.00 | $1,342.50 | Participate in strategy discussion with P. Dunmore; review fee cap analysis; assess engagement risk
2023-10-17 | Christy Bauer | Associate | 6 | $525.00 | $3,150.00 | Draft memorandum analyzing Vantage Peak's potential fraud and misrepresentation claims under Delaware law: elements of common-law fraud, negligent misrepresentation, SAFE limitation-of-liability and integration clauses; conclude litigation risk favors negotiated resolution
2023-10-17 | Omar Siddiqui | Associate | 2 | $525.00 | $1,050.00 | Review and revise C. Bauer's misrepresentation analysis memo; coordinate with P. Dunmore
2023-10-17 | Patricia Dunmore | Partner | 1.5 | $895.00 | $1,342.50 | Final review of misrepresentation analysis memo; approve conclusions and recommendations
2023-10-19 | Patricia Dunmore | Partner | 2 | $895.00 | $1,790.00 | Draft response letter to J. Whitfield at Whitfield Harte regarding Vantage Peak demand letter dated Oct 18; propose mutual termination with full $3,500,000 refund without admission of liability
2023-10-19 | Omar Siddiqui | Associate | 1.5 | $525.00 | $787.50 | Assist with response letter to Whitfield Harte; research precedent for mutual SAFE terminations
2023-10-20 | Omar Siddiqui | Associate | 0.5 | $525.00 | $262.50 | Review Atlas Fintech withdrawal notification (SAFE never executed, no funds transferred); update matter status
2023-10-22 | Omar Siddiqui | Associate | 0.5 | $525.00 | $262.50 | Review Ridgeline Angel Fund termination and refund request ($1,200,000)
2023-10-23 | Omar Siddiqui | Associate | 1.5 | $525.00 | $787.50 | Review Canopy Growth Capital termination and refund request ($1,100,000); draft summary email to P. Narasimhan regarding all co-investor withdrawal notifications; calculate total refund obligation of $5,800,000; recommend board authorization
2023-10-24 | Omar Siddiqui | Associate | 2.5 | $525.00 | $1,312.50 | Prepare Board Written Consent authorizing SAFE terminations and refunds ($3,500,000 VPV + $1,200,000 Ridgeline + $1,100,000 Canopy Growth = $5,800,000 aggregate); coordinate board signatures (Narasimhan, Marsh, Watanabe)
2023-10-24 | Patricia Dunmore | Partner | 1 | $895.00 | $895.00 | Review Board Written Consent for termination authorization
2023-10-24 | George Trujillo | Partner | 1 | $895.00 | $895.00 | Review termination board consent; interim billing review
2023-10-25 | Christy Bauer | Associate | 5 | $525.00 | $2,625.00 | Draft three Mutual Termination & Release Agreements (Vantage Peak, Ridgeline, Canopy Growth): termination of respective SAFEs, full refund without interest or penalties, mutual general releases, covenant not to sue, no admission of liability, mutual non-disparagement, Delaware governing law; note in Ridgeline agreement that pre-seed SAFE ($500,000, $8M cap, Aug 2022) remains in full force
2023-10-26 | Omar Siddiqui | Associate | 2.5 | $525.00 | $1,312.50 | Review and revise all three Mutual Termination & Release Agreements; coordinate comments with Whitfield Harte (VPV) and directly with Ridgeline and Canopy Growth counsel
2023-10-26 | Patricia Dunmore | Partner | 1.5 | $895.00 | $1,342.50 | Final review of all three Mutual Termination & Release Agreements; authorize circulation for execution
2023-10-27 | Omar Siddiqui | Associate | 1.5 | $525.00 | $787.50 | Coordinate execution of all three Mutual Termination & Release Agreements; confirm signatures: Narasimhan/Reyes (VPV), Narasimhan/Choi (Ridgeline), Narasimhan/Petrova (Canopy Growth)
2023-10-27 | Christy Bauer | Associate | 2 | $525.00 | $1,050.00 | Finalize execution copies; organize closing document sets
2023-10-28 | Christy Bauer | Associate | 3 | $525.00 | $1,575.00 | Prepare wire transfer instructions letter to Silicon Valley Commerce Bank (Attn: T. Quinlan) directing three outgoing wires from Lumos account 8801-4427-3390: $3,500,000 (VPV), $1,200,000 (Ridgeline), $1,100,000 (Canopy Growth); total $5,800,000; coordinate with D. Okoye for signature
2023-10-28 | George Trujillo | Partner | 1 | $895.00 | $895.00 | Review wire transfer instructions; confirm refund amounts against board authorization
2023-10-30 | Omar Siddiqui | Associate | 1.5 | $525.00 | $787.50 | Confirm all three refund wires received by investors; prepare closing memorandum summarizing matter lifecycle from engagement through termination
2023-10-30 | Christy Bauer | Associate | 7 | $525.00 | $3,675.00 | Prepare closing memorandum; update capitalization table to post-termination status (all round SAFEs terminated; pre-seed SAFEs $1,200,000 remain outstanding); compile document index of all 35 executed documents and key correspondence; note Lumos post-termination cash ~$390,000 and ~4.1 month runway
2023-10-30 | Patricia Dunmore | Partner | 1.5 | $895.00 | $1,342.50 | Final review of closing memorandum and post-termination cap table; approve matter closure
2023-10-30 | George Trujillo | Partner | 2 | $895.00 | $1,790.00 | Prepare final invoice and timekeeper summary; verify all time entries; confirm total fees $67,340.00 against $95,000 fee cap; finalize disbursements at $1,245.00; grand total $68,585.00; close matter 1008-00003
SUBTOTAL — Patricia Dunmore | Partner | 18.5 | $16,557.50
SUBTOTAL — George Trujillo | Partner | 6 | $5,370.00
SUBTOTAL — Omar Siddiqui | Associate | 52 | $27,300.00
SUBTOTAL — Christy Bauer | Associate | 34.5 | $18,112.50
TOTAL | 111 | $67,340.00
[sheet: Fee Cap Reconciliation]
Item | Amount | Notes
Engagement Fee Cap (Professional Fees Only) | $95,000.00 | Per engagement letter dated August 21, 2023; excludes disbursements
Partner Fees — Patricia Dunmore (18.5 hrs × $895/hr) | $16,557.50 | Responsible Partner
Partner Fees — George Trujillo (6.0 hrs × $895/hr) | $5,370.00 | Billing Partner
Associate Fees — Omar Siddiqui (52.0 hrs × $525/hr) | $27,300.00 | Lead Associate
Associate Fees — Christy Bauer (34.5 hrs × $525/hr) | $18,112.50 | Working Associate
Paralegal Fees | $0.00 | No paralegal time billed on this matter (rate: $295/hr)
Total Professional Fees | $67,340.00 | Sum of all timekeeper fees
Amount Remaining Under Fee Cap | $27,660.00 | $95,000.00 − $67,340.00
Fee Cap Utilized (%) | 70.9% | $67,340.00 ÷ $95,000.00
Total Disbursements (Outside Cap) | $1,245.00 | Filing fees, courier, long-distance, reproduction
Grand Total Invoice Amount | $68,585.00 | Professional Fees + Disbursements