It’s been nine long months, but the wait is nearly over. It’s exciting and nail biting all at the same time. Clay and Matt have worked really hard to get this far. The vision of capturing ‘golden advice’ parents have, and then being able to provide a social place for other parents to find it, is nearly a reality.

Today we officially closed our Round 1 financing and have successfully raised A$1.5m.  At the end of the day our offer was over-subscribed and we had to scale back a couple of our more supportive investors to issue only smaller lots.

This is a fantastic achievement in a relatively tight market for high-tech funding here in Perth and a testament to the careful thought that has gone into our planning and presentation of this business proposition.

So of the key factors which contributed to our success were:

1. Highly scalable business approach (Business improves with scale rather than becoming more complicated)
2. Balanced management team (Clay and myself have very complimentary skill sets)
3. Social responsible investment (helping parents become better)
4. Global market offering
5. Flexibility to negotiate final funding terms (sorry but they are confidential)

I am in the process of completing the share-script forms so that all shareholders get their “paper” to support the $$ they have invested.  Now it is up to Clay and I to turn the $$ into a very healthy return for our supporters.

Huge thanks to Clay and the Board for the awesome support in getting so comfortably into a funded position.

We are only a week away from launch. Just cleaning up some small bugs and adding content to the relevant pages. A few important people have tested the site and liked what they saw - thank you for all your help and input! (you know who you are)

We have been in Private Beta (or Alpha) testing for two weeks now. Our development team is working through a list of todo’s so we can hopefully launch in the next 2-4 weeks. We are very impressed with the site and hope the public really enjoys it once it is available.

Last week was a big step forward for Minti’s fun-raising efforts.  We held a meeting with the largest interested investor and reached a hand-shake agreement on full financing of the current funding round.  The terms include considerable options to existing shareholders (board and management) to incent upside valuation performance.  We have carved out some shares from this round for those who had given us early positive commitments under the previous terms.  Now its time to get everything properly set into agreements so that we can focus entirely on operations.  Had a first look at the website via remote access today and its coming along beautifully with many of the features we had hoped for making it into this early version.