Shipping in public.

Allocate a whole year's equity in one gamified pass

• New Annual Allocation Studio. Run the yearly contribution cycle end to end: set this year's budget against the declining ceiling, score each person on a 100-point scorecard, place them in a role band, and watch the pool split pro-rata across the cohort in real time. One clear flow from budget to signed-off grants.
• Score rings, role bands, and a live summary. Every person is a card with a tier-colored score ring, factor sliders, and their live options and fully diluted percentage. The right rail shows the whole cohort's split as band-colored bars that update as you score.
• Guardrails built in. Going over the fixed reserve is a hard stop; going over the discretionary annual ceiling asks for an explicit acknowledgement. The math is the same engine the pool policy panel uses, so the numbers always agree.

ImpactShare, clearer end to end

• A friendlier name. The contribution equity framework now reads as ImpactShare across the studio, so the policy, the pool, and the annual cycle all speak the same language.
• Configure the ceiling for real. The annual ceiling percentage and the sub-budget splits are now fully editable, including decimals, without the field fighting you as you type.
• See where the year's budget went. The pool panel now shows real consumption per sub-budget (contribution, strategic hires, board contingency) as filled bars, attributed from the grants themselves.

Return unvested equity to the pool

• Recyclable-from-terminations alert. When someone leaves, the unvested options they still hold against the pool are surfaced as a clear "recyclable" figure, with a per-person breakdown, so nothing sits idle.
• One-click lapse. From a terminated grant, lapse the unvested portion and return its shares to the reserve in a single confirmed action. Vested shares keep their exercise window; the rest goes back to the pool.

Three new documents for equity programs

• Grant Notice. A one-page summary of an award (reference, shares, exercise price, vesting, acceptance deadline) that points to the plan and agreement that govern it.
• Performance and Vesting Schedule. A schedule you can attach to any award: time vesting with a cliff, an optional performance tranche, optional double-trigger acceleration, and leaver treatment.
• Employee Equity Guide. A plain-English explainer for recipients covering what an option is, how vesting works, exercising, leaving, earning equity through contribution, tax basics, and dilution.

Sample companies that actually show contribution

• The built-in sample companies now include advisors with real, verified contribution ledgers, so the Granting Studio, the options list, and My Equity show contribution in action out of the box.

Under the hood

• Contribution scores and credits stay a display and planning layer only; vesting is still computed automatically from the schedule and is never overwritten by hand.
• The pool utilization alert now measures against the real option pool, so it can't drift from the cap table.

Data Room: one way in

• Add Documents. The four separate header buttons (Extract with AI / Upload Doc / Import Folder / Upload) collapsed into a single split button. The dropdown still reaches every path: file upload, whole-folder import, direct AI extraction, and manual record entry.
• Classified before anything uploads. Every file you drop is analyzed instantly: document type, status, executed/expiry dates, duplicate detection and stakeholder suggestions, all shown in an editable review list. Fix a title or type before it lands, not after.
• Extract & classify with AI. After an upload completes, one click hands the same files to the universal AI extractor, which verifies their types and files key data (parties, amounts, dates) into the cap table.
• Version-aware uploads. A new Commercial License 2025 dropped next to the 2024 one is detected as a renewal: it's chained to the existing series with an incremented version number and shows a "v2 of …" badge in review. The table keeps collapsing each series to its current version, with older versions one chevron away.

A real document taxonomy

• ~120 document types across 8 sections. A canonical registry covering corporate structure, governance, equity instruments (SAFEs, side letters, ROFR/co-sale, warrants, vesting agreements…), team, IP, compliance & KYC, the new Financials section (statements, audits, budgets, bank letters…), and material agreements.
• Searchable type picker everywhere. The Edit dialog, upload review and manual add all share the same grouped, searchable picker. Picking a type re-files the document into the right Data Room section instantly, and aliases just work (NDA, AoA, SPA…).

Extracted fields you can fix

• Click to edit. Every AI-extracted value in the document preview is now editable in place. Corrections write back into the extraction record and the cap table when the field maps to a real column.
• Full audit trail. Each correction records before/after values, who changed it, when, and the AI's original confidence; corrected fields wear an "edited" chip.

AI Extractions center

• The old admin "Extraction Debug" surface is rebuilt as AI Extractions: headline stats (extractions, source files, fields captured, low-confidence values, manual edits), a searchable Activity feed of every extraction with per-kind and "Needs review" filters, expandable field grids with confidence and override history, plus the Coverage and Schema panels.

Data Room polish & power

• Professional file icons. Crisp per-format document icons (PDF, Word, Excel, images…) replace the old emoji, and all section tables share a fixed column layout so rows align perfectly no matter how long the title.
• Diligence readiness. A 12-item investor-checklist score (incorporation, constitution, licenses, registers, resolutions, cap table, instruments, ESOP, founder agreements, IP, KYC, financials) with an expandable what's-missing view.
• Download zip. Select any set of documents and pull them down as a single archive.
• Redesigned Edit Details. Spacious two-column dialog: title, type, description and tags on the left; segmented status control, executed and expiry dates, searchable linked-record pickers and file facts on the right.

Fixes

• Learning Center → Settings. Clicking Settings (or any settings deep link) from inside the Learning Center now navigates correctly instead of silently snapping back to Learn.

Learning Center: course certificates

• Certificates of completion. Finish every lesson in a flagship course and earn a formal, engraved-style certificate: guilloche field, rosette seal, ornamental corners, and a deterministic verification serial.
• Download or email. Export as PDF or PNG, or send it straight to your inbox with the certificate attached.
• Super-admin design control. Issuing organisation, signatory, accent color, tagline, serial and study-hours lines are configured platform-wide in Settings → Course Certificates, with a live preview. Certificates ship signed by Omar Almansoori, Chief Executive Officer, Lisan.
• Progress-aware courses. Course pages now show per-lesson completion marks, a course progress meter, a Continue button that lands on your next unfinished lesson, and the hub's course cards show live progress and a "Certified" badge.

People & Access

• Invite people to your company (auditors, investors, employees) from Settings → People & Access. Invitations create workspace accounts via email; already-members are detected and skipped.
• Access levels. Assign each member a role (Admin / Employee / Auditor / Investor) that controls which Vquity views they see. Employees get My Equity, the Data Room and the Learning Center; auditors get read access to cap-table records and history; investors get the statement, rounds and updates.
• Domain rules. Map a whole email domain (e.g. @audit-firm.com → Auditor) and set a default role for unmatched members.

Admin Dashboard

• A new admin-only control room: members and their access levels at a glance, pending invitations, a "waiting on you" queue (exercise requests, unaccepted grant offers, expiring valuations, still-open rounds), quick actions, and the latest audit activity.

Portfolio, rebuilt for fund managers

• Table + cards views. A sortable analysis table (raised, last round, valuation, stakeholders, grants, pool utilization, valuation-to-raised multiple, jurisdiction) alongside the classic cards, with a Customize popover to choose columns and persist your layout.
• Portfolio analytics. Capital-raised-by-company and funding-timeline charts across the portfolio.
• CSV export. One click exports the whole portfolio analysis.
• Faster. Per-company stats now load in 4 batched queries instead of 3 queries per company.
• Fixed. The "Latest" card no longer mangles company names containing M/K (the "LISAN HOLDINGS LIMITED0.0M" bug).

My Equity, personalized & gamified

• Your position first. When your account email matches a stakeholder or grant recipient, My Equity opens with your own holdings: an animated vesting ring, your next vesting date and share count, and your equity journey milestones (grant accepted → cliff passed → 25/50/75% → fully vested → first exercise).
• Equity level. A tasteful level track (Newcomer → Fully Vested) that advances with your vesting progress.
• Learn what you hold. The employee equity course is linked in-place with live progress, a resume deep-link, and the certificate CTA when you finish.
• Company-wide stats stay available to admins below the personal view.

Data entry, rebuilt

• One wizard framework. Add Stakeholder, New Round, and New Option Grant now share a larger, calmer wizard shell: an animated progress bar, steps you can click back through, Enter to advance, and a review step with per-section Edit buttons before anything is saved.
• No more lost drafts. Closing a wizard with unsaved input now asks before discarding it.
• Add Stakeholder grew a Review step and a live ownership-impact preview ("this person will own 2.4% after adding"), and every share/money field formats with separators as you type.
• New Round moved a SAFE round's cap and discount into the Financials step where they belong, and a scanned term sheet can now fill the round date (it previously couldn't).
• Share classes. The create dialog can finally make Option Pool and Preferred Seed classes, and the class name follows the type until you edit it.

Conditional grants & advisory milestones

• Conditions on any grant. Mark a grant conditional and attach custom, measurable targets, like "100 customer introductions", "60 advisory hours", or "3 key hires", each with a target, unit, share of the grant, and due date.
• Progress tracking. Update progress from the grant panel; hitting the target marks the condition met, and met/waived/failed states are tracked with dates. The grants table shows each grant's condition progress.
• Fair to both sides. Conditions are explicit in the acceptance page the recipient sees, and agreed term lines print alongside them.
• Grant terms hygiene. Machine data no longer leaks: the public acceptance page and the grant panel now show only human-readable notes.
• Grant quality fixes. Zero-month cliffs are now possible (advisor grants), RSU/RSA grants no longer demand a strike price, an "Expired" filter was added, strike prices respect the company currency, and "Advance to exercised" no longer bypasses the exercise flow.

Contract Studio: contracts that fill themselves in

• Company legal profile. Save your registered address, notices email, registration number, and default signatory once (Settings → Company Profile); every one of the 23 templates pre-fills them from then on.
• Smarter pre-fill. The wizard now tracks which fields it auto-filled: re-linking a different stakeholder updates them, your edits always win, and auto-filled fields show a subtle sparkle. A summary tells you exactly what came from where.
• Two-party transfers. Share transfers now have separate seller and buyer pickers; the buyer's details come from the buyer (previously the seller's address was copied onto both).
• Computed totals. Aggregate purchase price computes itself from shares × price, with a warning if an override disagrees.
• Field validation. Emails, percents, negative numbers, cliff-longer- than-vesting, and dates before the effective date are flagged inline and on the review step.
• Legal fixes across templates. Offer letters gained a real start date, 83(b) elections separate FMV from price paid, advisor agreements have an editable term, IP assignments render an actual Exhibit A, stock powers take a certificate number, and board/shareholder consents support multiple signers with one execution block each.
• Round-aware SAFEs. SAFE templates can link a convertible round to pull its cap and discount; term sheets pull the round's lead investor and raise amount.

Fit & finish across the app

• Learning Center: "Up next" now lands at the top of the next article, the reading-progress bar works inside the app shell, every Learn page resets its scroll on navigation, and the meaningless "Updated" stamp is gone.
• My Equity: KPIs exclude cancelled/expired grants and the fully-diluted ownership number is finally honest.
• Transfers can be backdated; exercise requests show a clear over-limit error instead of silently clamping; signature requests use a searchable stakeholder picker with signer reordering; roster scans assign a share class to new stakeholders.
• Modeling now sits before Analytics everywhere (Top Bar and command palette included), sparkline charts no longer collide, and the extraction debug panel works again.

Funding rounds understand convertibles

• SAFE / Convertible round type. Rounds can now be marked as convertible (SAFE/note) financings. They show the valuation cap instead of a priced post-money, skip price-per-share and shares-issued everywhere, and close with a simple status change instead of the priced-round wizard.
• No double counting. Capital raised keeps convertible money in the instruments where it belongs, so a convertible round's headline amount and its SAFEs are never summed twice.
• Timeline that reads right. The Overview funding timeline shows "raised · cap" for convertible rounds.

Modeling that remembers

• Scenario workspace bar. Saved scenarios are now chips at the top of the Modeling tab: load, rename, duplicate, pin, and delete without leaving the page. Save updates the active scenario in place; "Save as new" branches it.
• Everything is remembered. The working inputs autosave per company and survive navigation, reloads, and restarts; an amber dot marks unsaved changes.
• Headline KPIs & a real chart. Post-money, founder dilution, price/share, and new shares at a glance, plus a proper stacked Current-vs-Post-Scenario ownership chart with hover details.

Investor Relations, now accurate and elegant

• Fully-diluted one-pager. The investor update now uses the same fully-diluted math as the cap table statement: SAFEs count, the pool shows, capital raised includes convertible money, and a "latest convertible cap" KPI appears when there's no priced round yet.
• Kind-aware last round. Convertible rounds show raised + cap; priced rounds show raised + post-money. Outstanding instruments get their own strip.
• Portal polish. Fully-diluted percentages in share-link creation, a real preview drawn from your data, clearer pitch, and a one-click path to the investor update.

Data Room groups document versions

• Files that are versions of the same document (yearly licences, certified copies, scans, ID copies) now collapse into one row showing the current version, with a chevron revealing the full history.

Fit & finish

• The sidebar no longer flashes a focus ring on click, and scrollbars are hidden app-wide (scrolling unchanged).
• The option-pool chart's hover card can no longer be cut off by the window edges, and the 75% / 90% threshold labels render fully.
• Modeling now sits before Analytics in the sidebar.

Overview, redesigned

• A calm, accurate snapshot. The Overview now shows only what matters: four fully-diluted KPIs (fully diluted shares, capital raised, valuation, stakeholders), your ownership at a glance, outstanding convertibles, and the funding timeline.
• Numbers you can trust. Everything on the Overview uses the same fully-diluted math as the Shareholders statement, so the dashboard always reconciles with your official cap table. Capital raised now includes money received through SAFEs and notes, not just priced rounds.
• Ownership donut with top holders. The largest holders with their fully-diluted percentages and one-click access to any profile; "Open cap table" jumps straight to the full statement.
• Less clutter. The duplicated rounds table, stakeholder roster, and pool chart are gone from the Overview. Each lives in its own tab where it belongs.

Navigation, reorganized

• Shareholders stands alone. The cap table statement is now the first entry in the Cap Table group, one click from anywhere (keyboard shortcut "2").
• New Company Records group. Stakeholders, Data Room, Contract Studio, and History now live together: everything about your company's people and paperwork in one place.
• Nothing breaks. Old links, pins, and recents from the previous two-tab Stakeholders page land on the right screen automatically, and the command palette finds the statement under "cap table".

A real cap table statement

• New Shareholders tab. The Stakeholders page now has two tabs on top: Stakeholders (the directory, now organized into Founders, Investors, Employees, Advisors & Consultants, and Entities sections) and Shareholders (a Carta-style cap table statement).
• The statement shows your company the way investors expect: holders grouped with subtotals, the option pool listed as "Unallocated Shares", and columns for total securities, fully diluted %, ownership %, voting %, outstanding shares, and outstanding options.
• Outstanding / Fully diluted toggle. One click converts every outstanding SAFE and convertible note at its valuation cap (proper post-money math), tags those rows "as-converted", and explains what converted in a banner. Instruments without a cap are called out rather than silently skipped.
• CSV export of the whole statement, and every row clicks through to the stakeholder's profile.

Scenario modeling that matches your spreadsheet

• Convertibles now convert. Round modeling converts your outstanding SAFEs and notes at the first round's pre-money before pricing the raise, so converted investors appear with a "+X converted" badge instead of sitting at 0%.
• The unallocated option pool counts toward fully diluted, so the starting percentages match your cap table statement.
• Zero-percent stakeholders are hidden by default, with a one-click "Show 0% stakeholders" toggle when you need the full list.

Money always in your currency

• Fixed app-wide: amounts everywhere now follow the currency in Settings, not your company's region. A US-dollar company in the UAE no longer sees د.إ in scenario modeling, the equity calculator, investor updates and their PDFs, waterfall exports, or the company profile.

Send documents for signature

• "Send for signature" in the Data Room. Send any draft or pending document for e-signature without leaving Vquity.
• SignX built in. Pick signers (add straight from your cap table, or the document's linked stakeholder is prefilled), optionally sign in order, and emails go out through Lisan SignX. When everyone has signed, the document flips to Executed automatically.
• DocuSign supported. Companies on DocuSign can send through their own account once credentials are configured.
• Documents out for signature show a provider chip next to their Pending Signature badge.

Fixes

• The Option Pool utilization tooltip is no longer cut off by its card.
• Cap table math corrections so fully diluted numbers reconcile exactly with certified statements (post-money cap conversions).

Contract Studio, rebuilt

• Contract Studio is now its own tab in the Records group, no longer a sub-tab of the Data Room. Old #view=documents/studio links, pins, and recents land on the new tab automatically.
• All 19 built-in templates rewritten to a professional legal standard: numbered parties clause, background recitals, bold numbered articles with sub-clauses, full definitions, printed notice addresses, governing-law and dispute-resolution provisions, and proper execution blocks, matching the drafting quality of top-tier venture documents.
• 60+ configurable clauses in the wizard. Each template now offers switchable clauses (pro-rata rights, MFN, board seat, ISO provisions, spousal consent, acceleration, lock-up, confidentiality, and more). Turning a clause on or off renumbers the agreement and adjusts the fill-in form to only ask for what the selected clauses use. Courts vs. arbitration is a single choice that rewrites the dispute clause and its fields.
• Word-quality exports: DOCX output uses Mulish 9pt justified body text, page-break-aware schedules, "Page X of Y" footers, and full execution blocks with "For and on behalf of" entity capacity lines.

Stakeholders (formerly Shareholders)

• The Shareholders tab is now Stakeholders. Every person and entity on your cap table gets a full profile, not just a row. All existing links, pins, and the "2" keyboard shortcut keep working.
• One stakeholder, many roles. A person can be a founder and a board director and an officer. Pick any combination of nine roles (Founder, Investor, Employee, Advisor, Board Director, Board Observer, Officer, Legal Counsel, Consultant) in the Add/Edit dialogs; role chips show on the profile header.
• Full profile view with three tabs: Profile (contact, identity & KYC, entity details, notes), Equity (holdings, vesting, plus option grants and SAFEs automatically attributed to the stakeholder), and Documents (data-room files linked to them).
• Upload documents straight from a profile. Passports, KYC files, signed agreements file into the Data Room already linked to that stakeholder.
• Full legal name field. Record the complete name as it should print in contracts ("Omar Kareem Haddad Almansoori"), separate from the display name.

Contracts pull from profiles automatically

• "New contract" on any profile jumps into Contract Studio with that stakeholder pre-selected. The wizard pre-fills their legal name, address, email, and (for entities) the authorized signatory's title.
• Role-aware party picker: the wizard's stakeholder list sorts people whose roles fit the document first (advisors on top for an Advisor Agreement, investors for a SAFE) and shows each person's roles beneath their name.
• Entity signatory email fallback. When an entity has no roster email, the notices clause uses the authorized signatory's email instead of printing blank.

Smarter name matching

• "Omar Almansoori", "Omar Kareem Haddad Almansoori", and "Mr. OMAR ALMANSOORI" now resolve to the same person. The matching engine strips honorifics (Mr/Dr/Sheikh/…) and generational suffixes (Jr/III/Esq), and recognizes abbreviated forms of the same name, same first and family name with extra middle names in between, including first-initial forms ("O. Almansoori"). Different people who merely share a first name still never cross-link.
• This powers document-to-stakeholder suggestions in folder imports, AI extraction linking, and the attribution of grants and SAFEs on stakeholder profiles.

Fixed: app freeze after closing a dialog

• Fixed the freeze where the whole app stopped responding to clicks after closing a dialog opened from a row menu (for example Data Room → ⋯ → Edit details → close). Two duplicate copies of an internal UI library were fighting over the page's pointer-events lock, leaving the app rendered but unclickable. The dependency tree is now pinned to a single copy and a regression test guards against it coming back.

Window & layout polish

• The top bar now stays pinned while you scroll. A stylesheet rule was silently overriding its sticky positioning.
• Minimize, maximize, and close buttons are now native Windows caption size (46×38px with larger icons) instead of the previous small squares.
• The Learning Center close button sits at the true right edge of the window, not floating at the article column's edge.

Contract Studio

• Removed the duplicate Preview tab from the right rail. The editor on the left already is the live document, so the rail now focuses on Fields only (desktop rail and the mobile Fields sheet).

Convertibles, finally a real table

• The instruments list is now a full sortable table: Status, Investor (with email), Type, Amount, Currency, Cap (with Pre/Post chip), Discount, Interest, Issue date, Maturity, and Terms (MFN / Pro Rata). Click any header to sort; click again to flip. Empty values always sort last.
• Search and filter in place. Find an investor by name or email, filter by status, and the per-currency totals in the footer follow your filter live.
• Maturity warnings. Instruments maturing within 90 days (or past due) are flagged amber right in the table.
• Archived instruments keep their toggle, and all row actions (edit, archive, restore, delete) are exactly where they were.

Every amount in its own currency

• SAFEs denominated in USD now display in USD, no more AED-labeled US-dollar SAFEs. Each instrument's currency is read from what the document extraction captured (or what you set), and only falls back to the company currency when nothing was recorded.
• KPI cards break totals down per currency ("USD 1.9M · AED 100K") instead of mislabeling a mixed sum.
• Pick the currency when adding an instrument. The Add dialog has a currency selector next to the amount, defaulting to your company setting.
• Change it any time in Edit. The Edit dialog gains a Currency field, and the amount/cap labels follow it.
• CSV export now includes a Currency column.

Conversion activity moved to its own tab

• The SAFE conversion audit trail now lives in a dedicated Activity tab next to Convertible Loans and Warrants. The main page stays focused on your live instruments, and the full history (who requested, who approved, when, and why) gets room to breathe.

Under the hood

• The Edit dialog no longer shows raw AI-extraction JSON in the notes box. Extraction history is preserved automatically and can't be corrupted by hand-edits.

Documents grew up: meet the Data Room

• The Document Vault is now a full Data Room with its own place in the sidebar. Every document is organized into the sections investors and lawyers expect: Corporate Structure, Governance, Equity, Team, Intellectual Property, Compliance & KYC, and Miscellaneous, assigned automatically from each document's classification.
• A category rail on the left shows live counts per section; click to focus one, or browse everything grouped with collapsible sections.
• A smarter table: document type spelled out ("Articles of Association", "Commercial License", "SAFE"), party avatars for linked shareholders, rounds and grants, status with color dots, and clean "7 Feb 2026"-style dates.
• Empty state that gets you started. Import a whole folder and watch it file itself.

Extract with AI, now for every document

• SAFEs no longer hit a dead end. "Extract with AI" now routes through the universal extractor: SAFEs, KISS notes and convertibles get the specialist treatment (valuation cap, discount, MFN, pro-rata, per-field confidence and source snippets), and everything else (rounds, grants, valuations, board documents, transfers) files into the right place.
• Batch extraction. Select any set of documents with the new checkboxes and run one extraction over all of them. Files are pulled straight from storage, no re-hunting on disk.
• Results land back on the document. After saving, the preview's "Extracted fields" pane shows every captured value immediately.

A preview you can actually read

• The document viewer now takes most of the dialog and the divider is draggable, so you can read the actual agreement, not a postage stamp.
• The side pane is one readable column with two tabs, Extracted fields and Details, instead of two cramped columns. Larger values, full text wrapping, thousands separators on amounts.
• "Extract with AI" sits in the header whenever a document has no extractions yet.
• Tags now show in the Details tab.

Import an entire folder in one go

• New "Import Folder" in the Document Vault. Drop a folder (or pick one) and every file inside (subfolders included) is scanned, classified, and staged for review. A real VDR with 64 files goes in as one action, not 64 uploads.
• Intelligent classification. Filenames and folder names are read the way a lawyer would: SAFEs, KISS notes, convertible notes, certificates of incorporation, articles & memoranda of association, statutory registers, board & shareholder resolutions, commercial licenses, NDAs & non-competes, employment / consultancy / founder-services agreements, share incentive plans, IP assignments, KYC documents, and more.
• Dates come along for free. "expires MAR2027" becomes a proper expiry date (so the 60-day callout works), "certified APR2023" becomes the executed date, and visa-style "03FEB25" stamps are read as identity-document expiries.
• Duplicates never import twice. Every file is fingerprinted; copies already in the vault, or repeated inside the folder itself, are flagged and deselected automatically.
• Everything is reviewable first. A grouped, folder-by-folder review table with editable titles, categories, statuses, dates, tags, and per-file confidence badges that explain why each file was classified the way it was. Files that can't be read (unsupported type, over 50 MB) are called out instead of silently skipped.
• Smart people-matching. "SAFE - Saleh Ahmed Khalid Almarri.pdf" is suggested as linked to the matching shareholder, even when the cap table uses a shorter form of the name.
• Unclassifiable scans get a second look. Low-confidence PDFs are read (first pages, locally in your browser) and reclassified from their actual text. No AI round-trip, no waiting.

Document viewing, fixed and faster

• Previews actually load now. Vault files live in private storage; the preview, Open, and Download actions now mint short-lived signed links instead of hitting Access Denied.
• "Extract with AI" from any document. The preview's empty extraction pane now has a one-click button that feeds the stored file straight into AI Extract, no re-hunting for the original on disk.
• The double close-button in the preview is gone.
• *"Uploaded by" shows You*** instead of a 36-character account ID.
• Manual single-file uploads now land in the same workspace storage as everything else.

Under the hood

• Fixed a background query in the preview dialog that failed on every open.
• Release notes on get.lisan.org no longer show dates next to versions.

People & entities, properly modeled

• Individuals and entities are finally different things. A new Individual / Entity toggle in Add & Edit Shareholder shapes the whole form. Entities get legal form, incorporation jurisdiction, registration number, and an authorized signatory (name, title, email); individuals get nationality, date of birth, and government ID details.
• A real legal profile on every holder. Phone, address, tax residency, tax ID, and KYC status live in a tidy collapsible "Legal & identity details" section, collapsed until you need it, with a count of what's filled.
• Scan-to-fill got smarter. Scanning a passport or ID now files nationality, ID number, birth date, and address into their proper fields instead of dumping text into Notes.
• The profile shows where it matters. The shareholder panel gains Identity & KYC / Entity details sections with a colored KYC badge, signatory shown as "Name - Title", and click-to-email addresses.

Contracts that hold up

• Execution blocks with capacity. Signature blocks now print "For and on behalf of [Company]", Name, Title, and Date, for both sides. Pick an entity investor and their signatory's name and title flow straight into the SAFE.
• Notices clauses can't ship empty. Company and counterparty addresses/emails are now required on every SAFE and convertible note.
• Convertible notes gained their trigger. A qualified-financing threshold now defines when the note converts.
• Dispute resolution everywhere. Every governing-law clause is followed by a forum sentence: courts of Delaware, DIFC-LCIA, SIAC, wherever you resolve disputes.
• Smaller fixes with big consequences: term sheets now correctly describe the valuation as post-money, governing law prefills as "the State of Delaware" (not just "Delaware"), and stock purchases & option grants carry optional spousal-consent sections.

A Documents tab that works like a product

• Edit anything after upload. New Edit Details dialog for title, description, category, status, expiry date, linked records, and tags.
• See what a document touches. Linked shareholders, rounds, and grants all render as chips; tags show under the title; Date and Title columns sort.
• Nothing expires silently. Documents expiring within 60 days get a callout above the table.
• Studio documents arrive linked. Generate a SAFE for an investor and the vault copy is linked to that investor automatically.

Contract Studio, refined

• The wizard shows your progress. A live "7 of 10 required filled" meter, clickable missing-field badges that jump you to the field, searchable record pickers, and a re-apply pre-fill button.
• The editor keeps your work. Autosave after a pause, Ctrl/Cmd+S, and a warning before closing with unsaved changes.
• The preview looks like the document. Serif typography matching the export, signature blocks included. And on smaller screens, a floating Fields button opens the panel that used to be desktop-only.

Fixes

• The currency picker now works everywhere. Selecting a currency inside dialogs (contract forms, settings) applies immediately.
• "Convertible Loans & Warrants" is now simply Convertibles in the sidebar.
• Deleting a shareholder from the table row now asks for confirmation, like everywhere else.
• Archived shareholders no longer appear in transfer pickers.

The sidebar, rebuilt around how you actually work

• From 41 entries to 19. Related views now live together: Options & Grants (grants, exercises, tax estimates, stock comp), SAFEs & Warrants, History (ledger, snapshots, audit trail, reversibility), Documents (vault, studio), Analytics, Modeling (scenarios, waterfall, calculator), Board, Compliance, Investor Relations, Integrations, and Import & Export.
• Six calm groups. Home, Cap Table, Records, Insights, Governance & Investors, Data & System. Every group opens where you expect, and nothing you used is gone.
• Sub-tabs where they belong. Each merged hub carries a light segmented switcher at the top of the page, so switching from Ledger to Snapshots is one click without changing screens.
• Everything old still works. Every legacy link, bookmark, notification deep link, pinned tab, and keyboard shortcut lands exactly where it used to. Pins migrate themselves, and the 1–9 keys open the same screens as before.

Find anything with ⌘K

• A true command palette. Views (including every hub sub-tab), settings panels, quick actions, your companies, and the entire Learning Center, all one search box away, from anywhere in Vquity.
• Old names still find new homes. Type "warrants" or "tax estimates" and the palette takes you straight to the right sub-tab.
• Copy a link to any view. One action puts a shareable deep link to your exact screen on the clipboard.
• Recents first. Open the palette empty and your last-visited views are already waiting.

Learning paths become journeys

• A path that knows where you are. The Founders, Investors, and Employees pages now show your real progress (articles read, minutes left, and your current step) with a Start, Continue, or Review button that always knows what's next.
• An itinerary, not a list. The recommended order is drawn on a progress spine: finished collections check off, your current stop says "You are here," and each step shows how much is left.
• The map fills in as you learn. The prerequisite diagram tints every collection you've completed and highlights where you stand.

A Learning Center that starts you moving

• One decisive button. The hub greets you with Start learning, Continue (straight into your next unread article), or a quiet completion state when you've read everything.
• Progress everywhere it helps. Cross-path meters, per-role completion counts on the path switcher, and your streak and XP right in the hero.

Fixes and refinements

• The guided tour now works in the default sidebar layout (it previously pointed at tabs that only exist in Top Bar mode), targets the new hubs, and skips steps whose views are turned off.
• Regional terminology follows you into the new hubs. SAFEs and 409A labels adapt to your region everywhere.
• The pending-approvals badge moved with SAFEs into the Instruments hub, on both the sidebar entry and the SAFEs sub-tab.

A reading experience built for focus

• Zen mode. One click (or press F) takes an article truly fullscreen. No sidebar, no bars, just the text. Esc brings everything back, and a quiet strip at the top edge keeps the exit and window controls one hover away.
• A visible way in. The Focus button now sits right where you start reading, at the top of every article, plus in the top bar and the floating reader dock.
• Calmer article pages. The hero rises in softly, the accent rule draws itself, and reading time left shows quietly on the reader dock as you scroll.

A top bar that earns its place

• One clear trail. The Learning Center is now the root of its own breadcrumbs. The confusing "Vquity › Learning Center" double-crumb is gone, and a single icon takes you back to the app.
• Everything at hand. Search (⌘K), your XP and streak at a glance, focus mode, theme toggle, and on desktop, the window buttons (minimize, maximize, close) now appear on every Learning Center page. The bar also drags the window, as you'd expect.

Momentum, redesigned as a ledger

• Rank, XP, streak, and coverage in one clean row, with a tap-to-open ladder showing all eight ranks from Observer to General Partner and exactly how far you are from the next one.
• Promotions get announced. Crossing a rank threshold shows a quiet "Promoted to Angel" moment right after your XP lands.
• Pick up where you left off. The hub now remembers your last open article and puts it one click away.
• Progress on every card. Collection cards show "2 of 6 read" with a small accent meter, so browsing doubles as a map of what's left.

An ultra-clean new hub

• The landing page is now an editorial masthead: full-bleed typography, soft color washes, live catalog stats (96 articles · 17 collections · 16 calculators), and a signature three-color hairline.
• Sections reveal gently as you scroll; cards share one calm hover language; role colors finally match everywhere (paths, articles, progress bars).
• Every animation respects your reduced-motion preference.

A brand-new setup experience

• Welcome screen first. Setting up now starts with a clear choice (enter details yourself, import from documents with AI, or explore a sample company) plus a quick tour of what Vquity can do. No more landing straight on an upload form.
• Always a way out. Every step has a working Back button (down to the welcome screen) plus the close button, and closing mid-setup now asks before discarding what you typed.
• Cleaner progress. The step strip no longer scrolls off-screen; a compact header shows exactly where you are ("Step 2 of 6").

Three sample companies, three regions

• Northwind Robotics (US · Delaware): SAFEs converted at a priced seed.
• Palmline Logistics (UAE · ADGM): convertible loans, AED throughout.
• Sidra Health (Saudi Arabia · CMA): priced seed and an ESOP in SAR.
• Each seeds with region-correct currency, terminology, tax model, and a working option pool. Sample seeding is fixed too (it previously failed with "Sample company setup failed").

Currencies & jurisdictions

• Pick any currency. Settings → Region now has a searchable list of 40+ currencies with flags (QAR, KWD, EGP, TRY…), not a short fixed menu.
• Per-document currency. Money fields in Contract Studio contracts have a currency dropdown, so a single company can issue an AED SAFE and a USD consulting agreement.
• Jurisdiction everywhere. Choose ADGM, DIFC, UAE Mainland, Saudi CMA/MISA/NEOM, US states, and more from a grouped dropdown (with free-text fallback) in the setup wizard, company edit, and Settings → Region.

Safety & polish

• Company deletion works again (and sample companies clean up after themselves if seeding is interrupted).
• Board seats, vault documents, and Contract Studio drafts/templates now use proper confirmation dialogs instead of browser popups.
• Adding a grant warns when your FMV/409A valuation is missing or expired, with one-click "use current FMV" pricing.
• Scrolling over a number field no longer silently changes its value.
• Share counts get thousands separators as you type in the setup wizard.
• Money labels follow your company currency ("Invested (AED)") instead of a hardcoded "$".

A friendlier, safer Vquity, driven by a full screen-by-screen review.

• Light & dark mode, one click: a new theme switch sits at the top of the app, on the welcome screen, and in the Learning Center.
• Smarter sidebar: collapse any section (including the one you're in); a dot shows where your current page is hiding. Every section now has distinct icons.
• Safer by default: deleting a shareholder, round, grant, SAFE, snapshot, or valuation now asks for confirmation first, and converted SAFEs can no longer be deleted. Archived shareholders can be viewed and restored again.
• Imports you can trust: CSV/Excel imports and JSON restores show your new data immediately (previously it could look like nothing happened).
• Accurate pool numbers: Option pool utilization is now measured against your option pool, not total authorized shares.
• Better first run: cleaner empty screens with guidance instead of zeroed-out charts, no more triple "get started" cards on Overview, the setup wizard always starts fresh, and the setup checklist can finish for US companies.
• Notifications that navigate: clicking a vesting, 409A, or SAFE alert now takes you to the right screen.

All-new Learning Center, rebuilt from the ground up around equity, cap tables, and venture investing.

• 96 brand-new articles across 17 collections, organized into three role-based paths: Founders, Investors, and Employees.
• Every article includes worked numeric examples, key takeaways, a glossary auto-linker, and an end-of-article quiz that tracks your progress.
• Three flagship courses (Cap Table Mastery, Venture Investing Mastery, and Employee Equity Mastery) rebuilt on the new lessons.
• All 16 interactive calculators are kept and linked from the relevant articles (SAFE conversion, dilution, option pools, fund economics, and more).
• The 153-term glossary now cross-links into articles and calculators.
• Learning Center is now English-only for a faster, cleaner experience.
• Old Learning Center bookmarks redirect automatically to the new hub.

Vquity 1.2.0

CapTableX is now Vquity, a fresh name for the same equity platform. Old /captablex links redirect automatically.

Also in this release:

• Contract Studio: create SAFEs, ESOP plans, option grants, share transfers, term sheets, board consents, and 17 more documents from customizable templates. Everything pre-fills from your cap table, exports as polished PDF or Word, and can file straight into the Document Vault. Duplicate any built-in template to make it yours, or author new ones with merge fields.
• New company switcher: searchable, with Active / Recent / All groups, per-user recents, and Portfolio / Add company / Manage companies actions. Press Ctrl+Shift+O to open it from anywhere.
• Settings workspace polish: unsaved-changes protection, panel deep links that survive reload, keyboard search ( / ), and clearer panel headers.
• Data-integrity fixes: settings saves no longer clobber grant templates, SignX signer, or 409A alert config; "Apply to all companies" preserves each company's own onboarding and templates.

• New guided onboarding: a company-profile step tailors the app to your stage and needs, and shows only the tools you use.
• Explore instantly with a built-in sample company (Northwind Robotics): founders, converted SAFEs, a priced seed round, option grants mid-vest, a 409A, and a board.
• Company setup now saves par value and links founders to their share class, so the cap table reconciles with no "unlinked shares" warning.
• Faster, safer first run: setup steps now complete in order and surface errors instead of failing silently.
• Sample companies are badged and can be deleted in one click when you're done exploring.