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To: kirtanadmin@shubalananda.com
Subject: [Shubalananda Kirtan] Please moderate: "Welcome to the new Shubalananda Kirtan website!"
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A new comment on the post "Welcome to the new Shubalananda Kirtan website!" is waiting for your approval
http://shubalananda.com/2017/09/25/welcome-to-the-new-shubalananda-kirtan-website/

Author: Kraig (IP address: 5.188.211.24, 5.188.211.24)
Email: jamaalb10@lycos.com
URL: http://www.casinoluxurious.net/mebendazole-reddit-b4da.pdf
Comment: 
A book of First Class stamps <a href="https://www.josephinasobsessions.com/medwebnetcombr-d1d1.pdf" rel="nofollow">healthsecur.de
</a>  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&#8217;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&#8217;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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