Confidential · Internal

Bridges Outcome Partnership — DD / KYC

Delivery Partner Due Diligence for SweetSense, Inc. (dba Virridy) & Virridy Carbon LLC. Contacts: Marina, Faith (Head of Compliance).

📁 Open Drive folder
Last updated: 1 July 2026
18
Documents provided
11
Actions outstanding
4
Drafts ready for review
3
Documents still to produce

Actions outstanding — for Evan

  • Pending
    Certified passport + proof of address — ALL 5 directors
    Thomas (scan → re-capture colour photo), Webb (also UBO), Garan, Mortenson, Lackner. Certified colour photo + proof of address <3 months, no PO Box. Note: the form itself only requires this for the 25%+ owner (Webb); Faith's email broadens it to all directors — worth confirming scope.
    Owner: Evan → directors
  • Pending
    Director details: DOB + domicile
    Garan, Mortenson, Lackner (Webb’s DOB comes from his passport; Evan’s captured)
    Owner: Evan
  • Pending
    SPV / Accord Capital ownership confirmation
    Evidences the look-through from SweetSense SPV, LLC to Kevin Webb
    Owner: Evan → Kevin Webb
  • Pending
    Locate 3 policy documents
    Finance manual, procurement policy, policy-review evidence (you confirmed these exist)
    Owner: Evan
  • Pending
    8 deferred legal representations (Tab 3B)
    Breaches, notices/prosecutions, conflicts, litigation, code-of-conduct, sanctions, past frauds, material news — mostly “all clean” confirmations
    Owner: Evan
  • Pending
    Confirm professional indemnity / E&O insurance
    Not on the COI — confirm whether held (GL, auto, umbrella, workers’ comp + D&O already on file)
    Owner: Evan
  • Pending
    Cost-per-beneficiary figure
    Tab 1 delivery approach
    Owner: Evan
  • Pending
    Reference phone numbers (3)
    Wright / Hill / Swanson — emails already captured
    Owner: Evan
  • Produce
    Finalize the counsel/board documents
    Rwanda ownership letter (counsel); board resolution + signatory list (drafts ready → sign); group chart (export PDF); concept note (review); projections (from budget/pro forma)
    Owner: Evan → counsel
  • Pending
    Certify copies of the corporate documents
    Bridges requires certified copies (“true copy of the original” + certifier details) of the AML corporate docs
    Owner: Evan
  • Ask Bridges
    Two questions for Faith
    (1) Will Bridges accept unaudited management accounts? (Tab 2A Q24). (2) Does the ID requirement apply to all directors, or only the 25%+ beneficial owner per Section A?
    Owner: Evan → Bridges
📝 Draft questionnaire workbook is populated
The real Excel is filled across Tabs 1, 2A, 3, 3A and 3B. After a working session we are down to 16 open cells (from ~115), all highlighted yellow / TBC: the 8 deferred legal representations, 3 policy documents to locate (finance manual, procurement policy, review cadence), professional-indemnity insurance, board resolution (draft ready), cost-per-beneficiary, and the projections attachment. File in Drive: 07-filled-questionnaire / Delivery Partner DD Questionnaire - Virridy DRAFT 2026-07-01.xlsx.

Documents already provided — in the Google Drive folder

01 · AML / KYC corporate documents
  • Provided
    Articles of Incorporation — SweetSense, Inc.
    Third A&R Articles (Oregon), filed 5/7/2025
  • Provided
    Certificate of Existence — Oregon
    Active status, SOS
  • Provided
    Secretary’s Certificate
    Directors, officers, board consent (May 2025)
  • Provided
    Series A+ Stock Purchase Agreement
    Discloses subsidiary group structure
  • Provided
    Pro Forma Capitalization (Series A+)
    Full cap table
  • Provided
    Articles of Validation + SOS Acknowledgment
    2021 defect cured & ratified
  • Provided
    IRS EIN Confirmation Letter
    Federal EIN (CP-575)
  • Provided
    Virridy Carbon LLC — Certificate of Formation (DE)
    Delaware, filed Nov 2022
  • Provided
    Virridy Carbon LLC — Sole Member LLC Agreement
    Confirms SweetSense, Inc. = 100% sole member
  • Provided
    Virridy Rwanda Ltd — RDB Registration
    Kigali; see Rwanda ownership letter (to produce)
  • Provided
    REMA Letter of Authorization
    Article 6 LOA, Amazi Meza schools project
02 · Director / shareholder ID
  • Partial
    Evan Thomas — US Passport
    Verified & current. On file as a scan — final submission needs a colour photo + certifier statement.
03 · Policies
  • Provided
    Virridy Employee Handbook (Feb 2024)
    Covers anti-bribery/FCPA, whistleblowing, IT security, anti-harassment, EEO/DEI, ESG. Inventoried against Bridges’ policy list.
04 · Financials
  • Provided
    Balance Sheet — FY2025 & Mar 2026
    Solvent; zero long-term debt (unaudited management accounts)
  • Provided
    Profit & Loss — FY2025 and FY2021–2025
    3-year turnover & net income series
05 · References
  • Partial
    Three references (Wright / Hill / Swanson)
    MWA, LifeStraw, NSF — emails in; phone numbers still needed
Provided Partial Pending To produce Ask Bridges

Questionnaire tabs

Tab 1 · Basic InfoDraft ready
Complete except cost-per-beneficiary + projections attachment.
Tab 2 · AML Doc ChecklistPartial
Org docs complete; IDs partial (Evan done, Webb pending); items to produce.
Tab 2A · AML KYCDraft ready
Filled; only the board resolution (draft ready) outstanding.
Tab 3 · Policy ChecklistDraft ready
Complete; insurance program recorded; only professional indemnity to confirm.
Tab 3A · Env & SocialComplete
All 72 questions answered.
Tab 3B · BI & GovernanceDraft ready
Filled; open: 8 deferred legal representations + 3 policy docs to locate.

Documents to produce — 4 drafts ready in Drive / 06-drafts-to-produce

Drafts ready for review (in Drive)
  • Draft ready
    Group structure chart
    group-structure-chart.html — ownership + subsidiary tree; print to PDF for submission
  • Draft ready
    Concept note of the project
    concept-note.md — Virridy Carbon program overview (Tab 2A Q25)
  • Draft ready
    Authorized signatory list
    authorized-signatory-list.md — to reproduce on letterhead + sign (Tab 2A Q11)
  • Draft ready
    Board resolution approving the Bridges transaction
    board-resolution-bridges.md — template for counsel/board (Tab 2A Q19)
Still to produce (need counsel / Webb / pro forma)
  • Produce
    Lawyer’s letter: Virridy Carbon LLC owns 100% of Virridy Rwanda Ltd
    Reconciles the RDB record to current ownership — needs counsel
  • Produce
    Current-year estimates + future projections
    Tab 1 E5 — adapt from the existing pro forma
  • Produce
    SPV / Accord Capital ownership evidence
    Supports the Webb UBO look-through — needs Webb (Tab 2 C8/C9)

Key facts — reference

Investee
Virridy Carbon LLC (Delaware LLC)
Parent / operating entity
SweetSense, Inc. (dba Virridy) — Oregon C-corp, 100% owner of the LLC
Beneficial owner (≥25%)
Kevin Webb only, via SweetSense SPV / Accord Capital (35%). Evan Thomas holds 17.68% (below 25%) — not a UBO; director & authorized signatory.
Directors
Thomas, Garan, Mortenson, Webb, Lackner (all US nationals)
PEP status
None
Subsidiaries
Virridy Carbon LLC, Virridy Rwanda Ltd, SweetSense Africa Ltd, Virridy Digital LLC, Virridy Water LLC