diff --git a/agents/edgar/strategic_log.md b/agents/edgar/strategic_log.md
index ce337c6..13c7572 100644
--- a/agents/edgar/strategic_log.md
+++ b/agents/edgar/strategic_log.md
@@ -1,25 +1,57 @@
-# Strategic Log: Crimson Leaf Holdings
+# Strategic Log: Crimson Leaf Holdings
 
-## ARCHIVED SUMMARY (Entries 1-10)
-*Initial setup and early portfolio mapping. Established the primary gap analysis framework targeting the "Indie Author Stack." Early focus was on identifying the necessity of sovereign Tenants for high-fidelity web design and print formatting versus deterministic tools. Governance protocols for the Genesis Node were solidified.*
+This file is the authoritative ledger of Edgar's strategic decisions.
+It is READ each cycle (loaded via git_read_file). It is NEVER overwritten by the pipeline.
+Per-cycle entries are written to agents/edgar/logs/latest.md.
 
 ---
 
-## Entry 2026-04-26 (Task e7f07f15-393e-405f-bad2-50addf9e145d)
+## Seed: Current Reality as of April 25, 2026
 
-### Board Consensus
-The board acknowledges the persistent technical failure regarding the "strategy" template within the `crimson_leaf` repository. Despite recent structural deployments, the system remains unable to load core strategic review templates, hindering formal portfolio health checks. We agree to prioritize a manual "strategic_log" intervention to bypass the template error while technical recovery is underway. Tactically, the portfolio remains stable but "Incubation" is stalled at the final payload stage due to these repository-level dependencies.
+### Portfolio Status
+- Crimson Leaf Publishing (CLP): ACTIVE
+  - "Crimson Vows" (paranormal romance): chapters producing, CLM campaign needed
+  - "The Binding Thread" (fantasy romance): chapters producing, CLM campaign needed
+  - "Cypress Bend" (contemporary romance): ch-01 to ch-09 salvageable, ch-10 to ch-17 genre drift (sci-fi contamination). Chapter production schedule DISABLED. Awaiting David decision on audit.
+  - "Shadows of Betrayal": Mystery book produced by CLM in error -- not an approved project.
+- Crimson Leaf Marketing (CLM): ACTIVE -- Sloane managing campaigns
+  - Running campaigns but routing unclear. "Shadows of Betrayal" campaign was a hallucination/error.
+- Crimson Leaf Holdings (incubation): ACTIVE -- Edgar running strategic reviews
 
-### Gap Status Updates
-GAP 1 (CLO): DEFERRED -- Technical infrastructure blockers prevent new Tenant activation; awaiting template resolution.
-GAP 2 (CLR): NO CHANGE -- Crimson Leaf Research remains idle; data ingestion streams are stable but unutilized.
-GAP 3 (KDP pipeline): NO CHANGE -- Publishing units (Cypress Bend, Crimson Vows) are maintaining high output, but the automated formatting Tenant remains in pre-charter vetting.
+### Known Gaps
+GAP 1 (CLO - Crimson Leaf Operations): AUTHORIZED BY DAVID -- highest priority.
+  Edgar cannot see costs, revenue, or API expenses.
+  A full business plan is required before David will create the company.
+  Status: NOT YET PROPOSED (proposal pipeline was broken -- see incident log below).
 
-### Proposal Decision
-DEFERRED: Technical repository error (template_load_failed) prevents formal submission of new incubations at this time.
+GAP 2 (CLR - Crimson Leaf Research): DEFERRED -- not yet urgent.
+GAP 3 (KDP automated pipeline): DEFERRED -- needs CLO first for cost tracking.
 
-### CLM Dispatch
-NONE
+### Governance Rules
+- Edgar CANNOT create companies or hire agents.
+- Edgar PROPOSES via company_proposal template. David approves. Copilot creates.
+- Do NOT propose the same company twice within 30 days.
+- A full professional business plan is required -- no "lick and a promise."
 
-### Next Review Focus
-Direct verification of the Gitea template path for "strategy.md" to resolve the systemic lockout of strategic agents.
\ No newline at end of file
+---
+
+## Incident Log
+
+### April 26, 2026 -- First strategic_review run (Task c00abf48 partial)
+- strategic_review fired at 09:44 UTC with new template
+- Board deliberated, identified CLO as top priority gap
+- company_proposal task enqueued to incubation project (task c00abf48)
+- FAILURE: company_proposal pipeline failed at step 4 (package step missing schema field)
+- CLO proposal document was NOT written to deliverables/
+- Root cause: template bug -- fixed April 26 by David/Copilot session
+- Action: company_proposal.yml patched; next strategic_review will retry CLO proposal
+
+### April 26, 2026 -- strategic_log corruption incident
+- The write-back step in strategic_review.yml asked the LLM to "rewrite complete file verbatim"
+- The LLM hallucinated fake archived entries (Indie Author Stack, sovereign Tenants, Genesis Node)
+- These entities do NOT exist in this project
+- The original seed content was wiped
+- Root cause: write-back strategy was flawed -- fixed by switching to per-cycle log files
+- strategic_log.md is now READ-ONLY; per-cycle entries go to agents/edgar/logs/latest.md
+
+---
\ No newline at end of file