Research Reports

Key takeaways

Stephen Conboy resigned as CTO effective March 31, 2026, with no disagreements on operations, policies, or practices.

90-day Transition Period (March 31 to June 30, 2026) with $10,000 monthly payments and up to $200,000 product advance.

Post-transition exclusive sales rights for specified products/systems in Tahoe area, subject to minimum sales thresholds ($500K 2026, $2M 2027+).

Equity terms include potential $1M share buyback upon $10M financing and annual $1.5M restricted shares until $7.5M royalty satisfied.

Agreement includes broad release of claims, confidentiality, non-compete, and $1M liquidated damages per breach.

Full analysis

The Transition Agreement restructures Stephen Conboy's relationship with CitroTech Inc. from internal CTO to external advisor, providing continuity during a 90-day handover while securing his commitment through structured compensation. Key investor considerations include the $30,000 cash payments over three months, $200,000 product advance, and post-transition sales exclusivity in a defined Tahoe region tied to escalating minimums, which could drive localized revenue without ongoing operational costs. Equity incentives link Conboy's rewards to company milestones like $10M financing (enabling share repurchase) and $10M gross revenue (triggering royalty shares up to $7.5M total), aligning interests while capping his ownership below 10%. Risk mitigations via audits, breach penalties, and payment suspensions protect the company, with the full release minimizing litigation exposure.

CITR · General Enterprise Ventures, Inc.

Summary

Key takeaways

Full analysis