Current to Target
The proposed corporate boundary, the conditions attached to it, and the legacy rights that must remain ring-fenced.
Read from the four Beach Club Pizza owners through the existing concept company and BCP Delray operating perimeter.
The current map documents Ian's 25% Beach Club Pizza interest, the operative 64.5% BCP Delray interest, and legacy rights that require reconciliation. It does not imply that all entities or rights are verified for closing.
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Rob Krauss, Shaun Vanalphen, Ian Bond, and Randy Watson each hold a documented 25% Beach Club Pizza interest. Beach Club Pizza uses a 64.5% operative interest in BCP Delray for planning. Outside investors remain at BCP Delray, SF Delray is named in the base lease, the assignment is not verified, Northern Standard is not incorporated, and Pell Street is not formed.
Compare the documented current stack with the proposed target across the gated transition.
The target changes founder and concept ownership without erasing the BCP Delray investor perimeter or implying that Northern Standard owns 100% of BCP Delray.
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Current: Rob, Shaun, Ian, and Randy each hold 25% of Beach Club Pizza; the 64.5% BCP Delray operative interest and outside-investor boundary remain. Northern Standard is not incorporated and Pell Street is not formed. Coordinated changes require Ian's exit, a new founder bargain, parent formation, and a valid Beach Club Pizza roll-in. Target: Rob, Shaun, and Randy own the proposed parent; Beach Club Pizza is a conditional 100% target; Pell Street and future concept entities remain proposed; BCP Delray outside rights stay ring-fenced.
Current State
Current state
Documented Entities and Interests
Beach Club Pizza LLC is the founder-owned concept company. Ian Bond's documented Beach Club Pizza interest is 25%. For current planning, Beach Club Pizza's operative business-context interest in BCP Delray is 64.5%. A 60% recital remains historical provenance and a reconciliation item, not a competing valuation input.
Needs verification
The Current Map Is Not a Closing Map
BCP Delray investor agreements, unit schedules, the Krauss note, the separate 2% grant, tenant identity, guaranty and guarantee exposure, debt, licenses, banking, and transfer restrictions require documentary and professional review.
Target Architecture
Recommendation
Preserve the Investor Boundary
NS should not be shown as owning 100% of BCP Delray. The 100% target applies to founder-owned concept companies and new wholly owned operating subsidiaries after valid contribution or transfer. Outside BCP Delray investors stay at BCP Delray.
Future / optional
ManagementCo and IPCo
A separate ManagementCo or IPCo may become useful as the platform grows, but neither should be created until a specific operating, tax, liability, financing, or licensing need is approved.