We're are about to wrap up our first round of funding and I've been trying to figure out how critical formal board meetings are at this stage? There will only be a few investors involved and only one has offered to be a part of the board.
If this is something that isn't critical during the seed round stage, I'd rather do them on an ad hoc basis rather than monthly.
Don't be stupid. You shouldn't want investors on your board; try to minimize their presence on your board as much as possible. It might not seem important to you now, since you're at the seed stage and you own a majority of the equity, but after one or two more rounds of funding, you will no longer be a majority shareholder, and the board will be able to vote on every issue, including whether or not you're the right person to lead the company.
So, you can be replaced by your board, which is why it's idiotic of you to try to get more investors on it, since they only care about their money. You don't need investors on your board after a seed stage anyways. Just keep them informed through weekly emails and when it does come time for you to add someone to the board, make sure it's not an asshole; only people you trust.
+1.
Also, weekly is way too often. It will weigh you down. Give them an update every month or two. Or they can read the company blog.
I agree with both of the comments.
+1