Walkthrough demo assets

docs/walkthrough-assets/demo-files/finance/annual-budget-forecast-2026.txt

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+Annual Budget Forecast — Fiscal Year 2026
+
+Company: Greenleaf Technologies, Inc.
+Prepared by: Finance Department | CFO: Sarah Nakamura
+Board Presentation Date: November 12, 2025
+
+REVENUE PROJECTIONS
+
+Revenue Stream         | FY2025 Actual | FY2026 Forecast | YoY Growth
+-----------------------|---------------|-----------------|----------
+SaaS Subscriptions     |  $18,400,000  |   $24,200,000   |  +31.5%
+Enterprise Licenses    |   $6,800,000  |    $7,900,000   |  +16.2%
+Professional Services  |   $3,200,000  |    $4,100,000   |  +28.1%
+Maintenance & Support  |   $2,600,000  |    $2,900,000   |  +11.5%
+-----------------------|---------------|-----------------|----------
+Total Revenue          |  $31,000,000  |   $39,100,000   |  +26.1%
+
+COST STRUCTURE
+
+Category                   | FY2025 Actual | FY2026 Budget | % Revenue
+---------------------------|---------------|---------------|----------
+Cost of Goods Sold         |   $7,130,000  |   $8,600,000  |  22.0%
+  Cloud Infrastructure     |   $3,800,000  |   $4,500,000  |  11.5%
+  Third-Party Licenses     |   $1,200,000  |   $1,400,000  |   3.6%
+  Customer Success Team    |   $2,130,000  |   $2,700,000  |   6.9%
+                           |               |               |
+Gross Profit               |  $23,870,000  |  $30,500,000  |  78.0%
+Gross Margin               |       77.0%   |       78.0%   |
+                           |               |               |
+Operating Expenses         |               |               |
+  R&D (Engineering)        |   $9,300,000  |  $11,700,000  |  29.9%
+  Sales & Marketing        |   $7,400,000  |   $9,400,000  |  24.0%
+  General & Administrative |   $3,100,000  |   $3,500,000  |   9.0%
+Total OpEx                 |  $19,800,000  |  $24,600,000  |  62.9%
+                           |               |               |
+EBITDA                     |   $4,070,000  |   $5,900,000  |  15.1%
+EBITDA Margin              |       13.1%   |       15.1%   |
+
+HEADCOUNT PLAN
+
+Department     | Current FTEs | FY2026 Target | Net Adds
+---------------|-------------|---------------|--------
+Engineering    |     62      |      78       |   +16
+Product        |     11      |      14       |    +3
+Sales          |     24      |      32       |    +8
+Marketing      |     15      |      18       |    +3
+Customer Succ. |     18      |      23       |    +5
+G&A (HR/Fin)   |     14      |      16       |    +2
+Executive      |      6      |       6       |     0
+---------------|-------------|---------------|--------
+Total          |    150      |     187       |   +37
+
+CAPITAL EXPENDITURE
+
+Item                        | Amount      | Timeline
+----------------------------|-------------|----------
+Office expansion (Floor 3)  | $1,200,000  | Q1 2026
+Data center GPU cluster     |   $800,000  | Q2 2026
+Security infrastructure     |   $350,000  | Q1 2026
+Dev tooling & licenses      |   $280,000  | Ongoing
+Total CapEx                 | $2,630,000  |
+
+KEY ASSUMPTIONS
+1. Net revenue retention rate holds at 118% (current: 121%).
+2. Average selling price increases 8% due to product tier migration.
+3. Cloud costs grow sub-linearly due to reserved instance optimization.
+4. No acquisitions included in base forecast.
+5. USD/EUR exchange rate: 1.08 (hedged for H1 2026).
+
+RISKS & SENSITIVITIES
+  - 5% revenue shortfall → EBITDA drops to $3,950,000 (10.6% margin)
+  - 10% engineering cost overrun → EBITDA drops to $4,730,000 (12.1% margin)
+  - Delayed Floor 3 buildout → pushes 12 hires to Q3, saves $600K in H1
+
+APPROVAL SIGNATURES
+  CEO: _______________  CFO: _______________  Board Chair: _______________

docs/walkthrough-assets/demo-files/finance/cryptocurrency-regulatory-framework.txt

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+Global Cryptocurrency Regulatory Framework — Comparative Analysis 2025
+
+Prepared by: Brookings Institution, Digital Assets Policy Program
+Authors: Dr. Timothy Massad, Esme Hawkins, J.D.
+Published: August 2025
+
+EXECUTIVE SUMMARY
+The global regulatory landscape for digital assets has matured significantly
+since the EU's Markets in Crypto-Assets (MiCA) regulation took full effect in
+December 2024. This paper provides a comparative analysis of cryptocurrency
+regulatory frameworks across 12 major jurisdictions, evaluating their
+approaches to consumer protection, anti-money laundering, stablecoin oversight,
+and DeFi governance.
+
+JURISDICTION COMPARISON MATRIX
+
+Jurisdiction    | Framework Status  | Stablecoin Rules | DeFi Rules | Exchange Licensing
+----------------|-------------------|------------------|------------|-------------------
+United States   | Fragmented*       | Partial (OCC)    | Pending    | State-by-state
+European Union  | Comprehensive     | Full (MiCA)      | Under study| Mandatory (CASP)
+United Kingdom  | Phased rollout    | Proposed          | Sandbox    | FCA registration
+Japan           | Comprehensive     | Full (PSA)       | Guidelines | Mandatory (FSA)
+Singapore       | Comprehensive     | Full (PS Act)    | Risk-based | Mandatory (MAS)
+Switzerland     | Comprehensive     | Integrated       | Principles | Mandatory (FINMA)
+UAE             | Comprehensive     | Full (VARA)      | Permitted  | Mandatory (VARA)
+Hong Kong       | Phased rollout    | Proposed          | Pending    | Mandatory (SFC)
+South Korea     | Implementation    | Proposed          | Pending    | Mandatory
+India           | Tax framework     | Banned            | Banned     | Under consideration
+China           | Prohibition       | CBDC only         | Banned     | Banned
+Brazil          | Framework law     | Under development | Pending    | Mandatory (BCB)
+
+* US: SEC, CFTC, OCC, FinCEN, state regulators all have overlapping jurisdiction.
+  FIT21 (Financial Innovation and Technology for the 21st Century Act) passed
+  House in 2024; Senate debate ongoing as of Aug 2025.
+
+STABLECOIN REGULATION DEEP DIVE
+
+Global stablecoin market cap: $178 billion (Aug 2025)
+  - USDT (Tether): $95B (53%)
+  - USDC (Circle): $52B (29%)
+  - DAI (MakerDAO): $8.2B (5%)
+  - Others: $22.8B (13%)
+
+MiCA Requirements (EU):
+  - 1:1 reserve backing in high-quality liquid assets (cash, government bonds)
+  - Reserves held at EU credit institutions (30% minimum in cash)
+  - Quarterly reserve attestations by independent auditors
+  - €200M daily transaction cap for non-euro stablecoins (significant asset-
+    referenced tokens)
+  - Tether (USDT): Non-compliant as of June 2025; delisted from EU exchanges
+
+US Approach:
+  - OCC interpretive letter (Jan 2025): National banks may issue stablecoins
+  - Lummis-Gillibrand Payment Stablecoin Act: Requires 100% reserves, monthly
+    attestations, $10B issuer threshold for Fed oversight
+  - Status: Committee markup completed; floor vote expected Q4 2025
+
+DECENTRALIZED FINANCE (DeFi) CHALLENGES
+
+Total Value Locked (DeFi): $148 billion (Aug 2025)
+Top protocols: Lido ($38B), Aave ($22B), MakerDAO ($18B), Uniswap ($11B)
+
+Regulatory questions unresolved:
+1. Who is the "issuer" or "operator" of a decentralized protocol?
+2. Can smart contract code constitute a "prospectus" or "white paper"?
+3. How do KYC/AML requirements apply to non-custodial protocols?
+4. Jurisdiction over DAOs with globally distributed token holders?
+
+EU approach: European Commission study (due Dec 2025) evaluating whether MiCA
+requires amendment for DeFi. Likely outcome: "same activity, same risk, same
+regulation" with implementation guidance for protocol operators.
+
+ENFORCEMENT STATISTICS (2023–2025)
+
+Agency    | Actions Filed | Penalties Assessed | Key Cases
+----------|---------------|--------------------|-----------
+SEC (US)  |      78       |     $4.2B          | Coinbase, Binance
+CFTC (US) |      34       |     $1.8B          | FTX settlement
+DOJ (US)  |      22       |     $3.1B          | Binance (CZ plea)
+FCA (UK)  |      15       |     £180M          | Unregistered exchanges
+MAS (SG)  |       8       |     S$45M          | 3AC-related entities
+
+CONSUMER PROTECTION METRICS
+
+Estimated crypto fraud losses (global, 2024): $14.8 billion
+  - Pig-butchering scams: $4.2B (28%)
+  - Rug pulls / exit scams: $3.1B (21%)
+  - Phishing / social engineering: $2.8B (19%)
+  - Ponzi / yield schemes: $2.4B (16%)
+  - Exchange hacks: $2.3B (16%)
+
+POLICY RECOMMENDATIONS
+1. Establish international stablecoin standards through FSB/IOSCO coordination.
+2. Adopt activity-based (not entity-based) regulation for DeFi protocols.
+3. Create regulatory sandboxes for tokenized real-world assets (RWA).
+4. Mandate on-chain analytics for AML compliance (Chainalysis, Elliptic).
+5. Harmonize tax reporting (OECD Crypto-Asset Reporting Framework by 2027).

docs/walkthrough-assets/demo-files/finance/q3-2025-portfolio-performance-report.txt

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+Quarterly Portfolio Performance Report — Q3 2025
+
+Prepared for: Meridian Capital Partners, LP
+Investment Manager: Crestline Wealth Advisors
+Date: October 15, 2025
+
+PORTFOLIO SUMMARY
+
+Total AUM (as of Sep 30, 2025):  $48,720,000
+Net Return (Q3):                 +4.82%
+Benchmark (S&P 500 TR):         +3.61%
+Alpha Generated:                 +1.21%
+Sharpe Ratio (trailing 12-mo):  1.34
+
+ASSET ALLOCATION
+
+Asset Class             | Allocation | Q3 Return | Benchmark
+------------------------|------------|-----------|----------
+US Large-Cap Equity     |    35.0%   |   +5.12%  |  +4.20%
+US Mid/Small-Cap Equity |    12.0%   |   +6.84%  |  +5.30%
+International Developed |    15.0%   |   +3.45%  |  +2.90%
+Emerging Markets        |     8.0%   |   +2.18%  |  +1.60%
+Investment-Grade Bonds  |    15.0%   |   +1.92%  |  +1.75%
+High-Yield Bonds        |     5.0%   |   +3.28%  |  +2.90%
+Real Assets (REITs)     |     5.0%   |   +7.62%  |  +6.40%
+Alternatives (PE/HF)    |     3.0%   |   +4.10%  |    N/A
+Cash & Equivalents      |     2.0%   |   +1.32%  |  +1.30%
+
+TOP EQUITY HOLDINGS
+
+Symbol  | Name                  | Weight | Q3 Return | Contribution
+--------|-----------------------|--------|-----------|-------------
+NVDA    | NVIDIA Corporation    |  4.2%  |  +18.3%   |   +0.77%
+MSFT    | Microsoft Corp        |  3.8%  |   +7.1%   |   +0.27%
+AAPL    | Apple Inc             |  3.5%  |   +4.6%   |   +0.16%
+AMZN    | Amazon.com Inc        |  3.1%  |   +9.2%   |   +0.29%
+LLY     | Eli Lilly & Co        |  2.7%  |  +12.4%   |   +0.33%
+UNH     | UnitedHealth Group    |  2.3%  |   +5.8%   |   +0.13%
+JPM     | JPMorgan Chase        |  2.1%  |   +8.9%   |   +0.19%
+V       | Visa Inc              |  1.9%  |   +6.3%   |   +0.12%
+AVGO    | Broadcom Inc          |  1.8%  |  +14.7%   |   +0.26%
+XOM     | Exxon Mobil Corp      |  1.6%  |   -2.1%   |   -0.03%
+
+RISK METRICS
+
+  Portfolio Beta:                0.92
+  Max Drawdown (Q3):           -3.14% (Aug 5 market selloff)
+  VaR (95%, 1-day):            $243,600
+  Tracking Error (annualized):  2.18%
+  Information Ratio:            0.55
+
+COMMENTARY
+The portfolio outperformed the benchmark by 121 basis points in Q3, driven
+primarily by our overweight in semiconductor and healthcare names. The August
+volatility event (triggered by Bank of Japan rate concerns) was managed through
+our systematic rebalancing discipline—we added to equities on the drawdown,
+which contributed approximately 40 bps of alpha recovery.
+
+Our alternatives sleeve delivered steady returns from the Sequoia Growth Fund IV
+(vintage 2022), which marked up several portfolio companies after strong Q2
+earnings. The real assets allocation benefited from falling interest rate
+expectations, with REITs posting the strongest quarterly return across our sleeve.
+
+OUTLOOK & RECOMMENDED ACTIONS
+1. Reduce US Large-Cap Equity by 2% (take profits on semiconductor gains).
+2. Increase International Developed by 2% (European value opportunity).
+3. Maintain fixed-income duration at 5.2 years (anticipating Fed rate cuts).
+4. Review high-yield exposure for credit quality deterioration signals.
+
+DISCLOSURES
+Past performance does not guarantee future results. This report is confidential
+and intended solely for the named recipient.

docs/walkthrough-assets/demo-files/finance/venture-capital-term-sheet.txt

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+SERIES B PREFERRED STOCK TERM SHEET
+
+Company:          NovaBridge AI, Inc. (Delaware C-Corp)
+Investors:        Horizon Ventures (Lead), Catalyst Capital, Redwood Partners
+Round Size:       $35,000,000
+Pre-Money Valuation: $140,000,000
+Post-Money Valuation: $175,000,000
+Date:             August 20, 2025
+Status:           Non-Binding (except Confidentiality, Exclusivity, Expenses)
+
+SECURITIES AND PRICING
+
+  Security: Series B Preferred Stock
+  Price per share: $8.75 (based on 16,000,000 Series B shares)
+  Authorized shares post-round: 20,000,000 Series B Preferred
+
+INVESTMENT AMOUNTS
+
+  Horizon Ventures:    $20,000,000  (2,285,714 shares)
+  Catalyst Capital:    $10,000,000  (1,142,857 shares)
+  Redwood Partners:     $5,000,000  (  571,429 shares)
+
+CAPITALIZATION (Post-Closing)
+
+  Founders & Common:     10,000,000 shares  (50.0%)
+  Series A Preferred:     4,000,000 shares  (20.0%)
+  Series B Preferred:     4,000,000 shares  (20.0%)
+  ESOP (unallocated):     2,000,000 shares  (10.0%)
+  Total Fully Diluted:   20,000,000 shares
+
+LIQUIDATION PREFERENCE
+  1× non-participating preferred. Series B has senior liquidation preference
+  over Series A and Common. Upon a Deemed Liquidation Event, Series B holders
+  receive the greater of (i) 1× their Original Purchase Price plus declared
+  but unpaid dividends, or (ii) their pro-rata share on an as-converted basis.
+
+ANTI-DILUTION
+  Broad-based weighted average anti-dilution protection.
+
+DIVIDENDS
+  Non-cumulative, 6% per annum when and if declared by the Board.
+  Participation pari passu with Common on an as-converted basis.
+
+CONVERSION
+  Automatic conversion to Common upon (a) IPO with gross proceeds ≥ $75M and
+  per-share price ≥ 3× Series B price, or (b) written consent of 60% of
+  Series B holders. Optional conversion at any time at holder's election.
+
+VOTING RIGHTS
+  One vote per share on an as-converted basis. Series B votes as a separate
+  class on: (i) amendments to Series B terms, (ii) issuance of senior or
+  pari passu securities, (iii) dividends or redemptions, (iv) changes to
+  Board size.
+
+BOARD COMPOSITION
+  5 directors:
+    2 — Common holders (Founders)
+    2 — Series B (1 Horizon, 1 Catalyst)
+    1 — Independent (mutually agreed)
+
+PROTECTIVE PROVISIONS (Series B Consent Required)
+  - Any liquidation, merger, or sale of substantially all assets
+  - Debt exceeding $2,000,000
+  - Related-party transactions > $250,000
+  - Changes to authorized share count
+  - Annual budget approval (if not adopted by Dec 31)
+
+RIGHT OF FIRST REFUSAL & CO-SALE
+  Pro-rata right of first refusal on new issuances. Co-sale right on
+  founder transfers exceeding 5% of holdings per 12-month period.
+
+DRAG-ALONG
+  If holders of 60% of Preferred and a majority of Common approve a sale,
+  all stockholders must participate on the same terms.
+
+INFORMATION RIGHTS
+  Monthly financial statements (within 30 days), annual audited financials
+  (within 90 days), annual budget. Inspection rights with 5 business days notice.
+
+VESTING
+  Founder shares: 4-year vesting, 1-year cliff, monthly thereafter.
+  Acceleration: 50% single-trigger on Change of Control; 100% double-trigger.
+
+EXCLUSIVITY
+  45 days from execution of this term sheet.
+
+EXPENSES
+  Company to reimburse lead investor legal fees up to $75,000.
+
+GOVERNING LAW
+  State of Delaware.