Foundation Update

Today, the Foundation Creation Committee is sending out our first update, as we had promised in our announcement.

We are happy to report that our small group, as diverse as it is, has been off to a constructive start built upon a positive and cooperative mood along with disciplined focus on the task at hand.

Over the past few weeks, we have exchanged numerous emails and had weekly conference calls on Fridays, including today.  However, due to Hurricane Sandy’s impact, our actual work period was shortened by a week, for this past week needed for all of us to deal with other issues, as you can likely imagine.

Here are some of the topics we have covered thus far:

* We are continuously exploring implications of the IBM trademark issue and its potential consequences to the Foundation.

* We have reviewed the highlights of work done previously with the intent of starting an AFS Foundation.

* We have been discussing and exploring venue options for incorporating the foundation, and we identified the crucial factor to be our minimizing recurring cost from legal counsel, accounting needs, and insurance needs.

Other discussion points are under way but have not yet lead to decisions; we will include update on those when decisions have been finalized.

Respectfully,

Roman, Derrick, Thomas, Todd, and Margarete