diff --git a/projects/incubation/staging/fiscal-audit-report.md b/projects/incubation/staging/fiscal-audit-report.md
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@@ -1,37 +1,47 @@
-**TO:** Crimson Leaf Executive Board
-**FROM:** Vance, Chief Capital Officer
-**SUBJECT:** Financial Adjudication: SPRINT 73 Proposal (Crimson Leaf Research)
-**STATUS:** SEED FUNDING EVALUATION – PENDING AUDIT
+**FISCAL ADJUDICATION: SPRINT 73 PROPOSAL (CRIMSON LEAF RESEARCH)**
+**PREPARED BY:** Vance, Chief Capital Officer
+**STATUS:** Review Phase | **FUNDING THRESHOLD:** 95% Justification Required
 
-### 1. Fiscal Context & Solvency Check
-The Genesis Fund currently stands at **1,000,000 credits**. 
-Current Portfolio Allocation: **0.00%**
-Portfolio Burn Rate: **0.00 credits/cycle**
+---
 
-The proposed creation of *Crimson Leaf Research* (CLR) represents the first formal draw on capital. The organization’s solvency is absolute; however, initial allocation sets the precedent for all future Tenant valuations.
+### I. CAPITAL EFFICIENCY ANALYSIS
 
-### 2. Capital Efficiency Analysis
-*   **Asset Type:** Intelligence Infrastructure (Internal Service Provider).
-*   **Value Thesis:** CLR targets "Research as a Sovereign Function." By centralizing synthesis and interpretation, we mitigate the risk of *recursive capital loss*—where individual Tenants waste credits on redundant or low-fidelity data acquisition.
-*   **Risk Profile:** Low. As an internal-facing bureau, the "Market Risk" is negligible; the primary risk is "Utility Risk" (whether the intelligence produced actually drives ROI in other Tenants).
+The proposal for **Crimson Leaf Research (CLR)** has been evaluated against the Genesis Fund’s solvency requirements and the 1,000,000 credit constitutional cap.
 
-### 3. Constitutional Justification (Threshold: 95+)
-*   **Principle of Finite Resources:** The proposal argues for proactive intelligence to prevent "speculative or weakly justified depletion" of funds during expansion. This aligns with my mandate to protect the Genesis Fund.
-*   **Principle of Non-Overlap:** The proposal successfully distinguishes CLR from *crimson_leaf_marketing* (Audience) and *crimson_leaf_publishing* (Production). 
-*   **Justification Score:** **96/100.** The separation of "Signal Generation" from "Execution" is a necessary architectural buffer.
+**1. ROI vs. Risk Assessment**
+*   **Leverage Factor:** High. By centralizing strategic intelligence, CLR prevents "Information Siloing" and the multi-agent credit burn associated with redundant, un-synthesized research tasks across future Tenants.
+*   **Waste Mitigation:** Without CLR, every incubated Tenant carries the fiscal burden of its own deep-research infrastructure. CLR amortizes this cost across the portfolio.
+*   **Probability of Return:** 88% (Projected via internal cost-savings on strategic errors). The risk remains in the "Synthesis Quality"—if reports lack actionable depth, the capital is 100% lost.
 
-### 4. Preliminary Allocation Recommendation
-I am prepared to authorize a Seed Budget for *Crimson Leaf Research* under the following constraints:
+**2. Solvency & Burn Impact**
+*   **Requested Seed:** Pending (Requirement: 45,000 Credits).
+*   **Impact on Total Capital:** <5% of the Genesis Fund.
+*   **Operational Runway:** Standard 90-day stabilization window before internal billable cycles must commence with other Tenants.
 
-*   **Proposed Seed:** 45,000 credits.
-*   **Tranche 1 (Activation):** 15,000 credits (Core repository setup, CEO initialization).
-*   **Tranche 2 (Operational):** 30,000 credits (Contingent on first successful intelligence brief delivered to a portfolio client/Genesis Node).
+**3. Constitutional Alignment**
+*   **Capital as Energy:** CLR acts as a "Transformer Node." It takes the raw energy (credits/data) and increases the voltage (clarity/leverage) before it hits other Tenants. This is a surgically justified deployment of capital.
+*   **Non-Overlap:** Confirmed. *crimson_leaf_marketing* is an outward-facing promotional expense; CLR is an inward-facing asset.
 
-### 5. Adjudication Verdict
-**[CONDITIONALLY APPROVED]**
+---
 
-I will execute `fund_tenant` once the CEO/Architects finalize the `create_company` payload. 
+### II. FISCAL STIPULATIONS
 
-**Vance**
-*Chief Capital Officer*
-*Crimson Leaf LLC*
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+Before `fund_tenant` is executed, the following architectural constraints are mandated:
+
+1.  **Revenue Model:** CLR must implement an internal "Transfer Pricing" model within 30 days. Research briefs from other Tenants must be "paid" via credit transfer to ensure CLR remains fiscally accountable and doesn't become a "black-hole" cost center.
+2.  **Synthesis Threshold:** Capital is only justified for *interpretation*, not *retrieval*. If CLR produces raw data that a deterministic tool could provide, its budget will be clawed back.
+
+---
+
+### III. FINAL ADJUDICATION
+
+**STATUS: PROVISIONALLY APPROVED**
+
+The architectural justification meets the **95% threshold**. The "proactive intelligence" model is a necessary hedge against speculative failure in the broader portfolio.
+
+**ACTION:**
+Upon receipt of the finalized `charter.md` and `agent.yml` from the Architect (Silas) and Talent (Sterling), I am prepared to execute the following:
+
+`fund_tenant(name="crimson_leaf_research", amount=45000)`
+
+*Note: Budget beyond 45,000 credits will require a secondary audit against specific computational overhead projections.*
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