No 제 목 이 름 조회수 입력일시 119103 ljvkKawLzaGucE Elroy 17 2016-06-13 16:01 내 용 I like it a lot http://millenniumproductions.com/purchase-adapalene-online.pdf geography quantity where can i buy differin gel 0.3 librarian combination So, in a Series A, for example, say that $10 million is invested. Assume that all other shares are common stock, which is a reasonable assumption. If that $10 million of Series A Preferred Stock is convertible into 20% of the total fully-diluted shares of common stock, someone will say that the post-money valuation is $50 million ($10 million divided by 20%). As I say, there’s a large amount of BS to that, because it says that a highly-structured security with more rights than common stock, and economic advantages in low-value exit scenarios, is worth no more than the common stock into which its convertible. That’s not true: the common is worth some amount less, though the discount is hard to quantify. Since the common is worth less, the company is worth less than the reported $50 million post-money valuation.

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No 제 목 이 름 조회수 입력일시 119103 ljvkKawLzaGucE √ Elroy 17  2016-06-13 16:01