Meeting Notes from Call with Ms. Wang Ying on 6.7.16

Do they have any questions about the Summit project and did they choose the options?

She prefers to stay in the FS brand because shes concerned with the immigration process because she needs confirmation from the Attorney. Investor is afraid in the future the USCIS may find a material change on the brand and it has an affect on the immigration process.

We talked with the immigration Attorney and they said as long as you're conducting the same Business and they did not feel it was gonna be a material change and they could write an Addendum to reflect that.
Investor will contact Klasko to clarify this

If shes released from the brand, can they sue her company? As long as she signs a release that she wont sue FS, they wont sue her. It needs to be a mutual released signed by both parties. We have to take the sign down to whatever the new name is, and that should be fine.

Will this have any effect on the existing guests? It could because we changing the model, but we are changing it to a better model, we do have to change the name and the logo which is not an issue, but the model will be different, the store will look the same, the guests will have choices on price point so you might lose some people but you will also gain people

Will the Business License change? No, the entity is the same, just the DBA will change.

Investor would like to make the decision after she talks to the Attorney, she needs confirmation first. She says we need to work together to make the project successful, she feels like once we change the model, we need to make profit very soon because having the franchise off would mean more profit. According to Sabrina, if we take the franchise off now, Whitnall would be at break even now

Wang Ying thinks we should hold meetings with the managers of the salons to help her project be successful. We disclosed that her bilss are up to date, we have received her transfer of 16k, but we do have bills coming up from June and she may have to fund again. We dont want Wang Ying to put money every month, the goal is to minimize that.

Wang Ying appreciates Sabrinas hard work and believes we have to work in unity to make this project succeed. Sabrina thanks her and says she has some good things happening with her salons, Oak Creek has a brand new manager and is well experienced. Whitnall's manager is having some trouble going to the hospital, but we are doing marketing efforts, events, her team is fully comfortable with stating the mission statement, they are giving out thank you cards to guests and they are fully on board.

Wang Ying and her husband talked with christina and they like her, they think shes a good manager. They requested she stays with the brand even when it changes. Wang Ying wants to keep christina as her manager, they think shes a good manager and a good person, she appreciates the FranVest team and she wants Sabrina to send a message of appreciation to her employees.

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