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15180	jbtDbcoPMHprY	Scott E-mail URL	1/4-17:05
記事番号10655へのコメント We'd like to offer you the job http://www.karenstoys.com/sites/default/files/pharmacy/index.php/ventolin-prescription-assistance-7341.pdf ventolin evohaler buy uk 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.