Cap Table - Verbal Binding

[Albert]

Cap Table - Verbal Binding

Hi, I started a startup six months ago with three advisors, and now we will raise around 500k.

During the first month of our startup, I applied for a grant and distributed the equity verbally as follows

Me (90%)

Other three advisors (3.33%)

We never made any agreement or legal binding, but I wrote these figures in the application for the grant.

Now two advisors are not contributing at all to the company. How can I restructure the cap table?

Do they own any % if there was no written agreement?

submitted by /u/bodykiller
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