Case 2 · Distribution & recoupment
The Pearl Divers' Last Season
A funded documentary two milestones deep, with a settled campaign, an open share register and a published waterfall.
- Funded
- 108%
- of the all-or-nothing goal
- Committed
- $32,500
- of the $30,000 goal
- Backers
- 12
- confirmed contributors
- Milestones
- 2 of 4
- released from escrow
Live figures, read from the same records the project page serves — nothing here is illustrative.
The Pearl Divers' Last Season funded past its goal and went into production. It is the distribution-and-recoupment pipeline caught mid-flight: escrow releasing against approved work, the waterfall published, the register open.
Funded past the goal, then settled.
Twelve backers took the campaign over its goal before the deadline; the resolver settled it and the pledges became the production's budget. The numbers above are the settled record.
Escrow held the whole budget.
From settlement, the raised amount sits in escrow. Nobody — including the platform — moves it except through the milestone mechanism below.
Two of four milestones released, five approvals each.
Research and principal photography have been delivered, approved by named backers on each release, and paid out with the platform fee logged on the same ledger operation.
- 1 · Research and access$6,000Released5 approvals
- 2 · Principal photography$12,000Released5 approvals
- 3 · Edit and archive restoration$8,000Planned
- 4 · Delivery$4,000Planned
The waterfall is already published.
Against the project's base revenue case, the waterfall below shows the platform fee and full cash recoupment ahead of any profit. It recomputes as real revenue is metered.
Recoupment waterfall
How the base revenue scenario splits, in recoup order.
- Platform fee$1,544
- Cash recoup$29,335
- Time & resource recoup$0
- Producer profit$0
Based on the base revenue scenario
The production company's register is open.
Pearl Divers Documentary Company L.L.C. passed its compliance gate: shares are registered against consideration, and each entry has minted its token reflection.
- Authorized shares
- 250,000
- Registered
- 66,750
- Consideration
- $2,670,000
- Holders
- 4
The register above is the company's live record; token reflections are minted per entry once the compliance gate opens.
Backers hold statements, not promises.
Every backer's recoupment position — pledge, share, releases — reads from the ledger. The film's money has no private version.
Check the source
Every number in this article reads from the live project. Open the project page and compare — the case study has no numbers of its own.