Sample Cap Table

Strictly Confidential Startup.com - Cap Table Post Financing New round October 2009 $8m Pre-money valuation $12m Bridge converted into Series A Note repayed Share Capital Investor Common Series A Series B Options Warrants New Options (Pre) NOSH % Ownership ABC Co. 40,739,801 8,543,828 115,568 49,399,197 43.4% Individual Investors 338,149 797,113 1,134 49,025 1,185,421 1.0% Hill Investors - 17,830 17,830 0.0% Bank of America 3,720 1,677 203 5,600 0.0% New Investors 37,023,255 37,023,255 32.5% Directors 210,070 520,649 89,465 8,376 828,560 0.7% Founder 68,367 384,826 1,074,679 6,108 1,533,980 1.3% CEO 1,142,942 1,142,942 1.0% Other current employees 2,302 1,222,342 974 1,225,618 1.1% Former employees 22,712 24,289 2,936 49,937 0.0% Unallocated options 97,863 21,407,505 21,505,368 18.9% Total 645,320 42,442,389 45,567,083 3,654,391 201,020 21,407,505 113,917,708 100.0% % Total 0.57% 37.26% 40.00% 3.21% 0.18% 18.79% 100.00% New Investment Round (in US$) Calculation Pre-money equity valuation 12,000,000 Conversion Bridge (yes / no) yes ABC Co. Investment 1,500,000 Conversion Note (yes / no) no New investment 6,500,000 Price per Share 0.176 Repayment Bridge - Goal Seek - Post-money equity valuation 20,000,000 Parameters NOSH Series A ABC Co. before 10,124,417 Shares and Options Pre 6,625,000 NOSH before new Unallocated Shares from Conversion Bridge 5,375,000 Options are issued 16,327,736 Newly Issued Unallocated Option Shares from Conversion Note - Existing Options New Shares from ABC Co. Investment 1,500,000 Value Bridge 4,300,000 Existing Unallocated New Shares from Investment Round 6,500,000 Value Note 1,500,000 New Allocated 20,000,000 Total Options NOSH Post Disc. Conversion Bridge 20% % NOSH Shares and Options Pre 37,735,241 Disc. Conversion Note 0% Test Shares from Conversion Bridge 30,615,384 Shares from Conversion Note - Bridge Note New Shares from ABC Co. Investment 8,543,828 Value 4,300,000 Value New Shares from Investment Round 37,023,255 Disc. Price per Ord Share 0.14 Disc. Price per Ord Share Total NOSH Post ### Preferred Shares 30,615,384 Common Shares Assumptions: Go to "Tools" - "Goal Seek". "Set cell" G25 "to Value of" 0 :by changing cell" G24. This allows the calculation of the share price based on the new investment parameters.

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sample cap table

Transcript of Sample Cap Table

Strictly Confidential

Startup.com - Cap Table Post FinancingNew round October 2009 $8mPre-money valuation $12m Bridge converted into Series A Note repayed

Share Capital Investor Common Series A Series B Options Warrants New Options (Pre) NOSH % OwnershipABC Co. 40,739,801 8,543,828 115,568 49,399,197 43.4%Individual Investors 338,149 797,113 1,134 49,025 1,185,421 1.0%Hill Investors - 17,830 17,830 0.0%Bank of America 3,720 1,677 203 5,600 0.0%New Investors 37,023,255 37,023,255 32.5%Directors 210,070 520,649 89,465 8,376 828,560 0.7%Founder 68,367 384,826 1,074,679 6,108 1,533,980 1.3%CEO 1,142,942 1,142,942 1.0%Other current employees 2,302 1,222,342 974 1,225,618 1.1%Former employees 22,712 24,289 2,936 49,937 0.0%Unallocated options 97,863 21,407,505 21,505,368 18.9%Total 645,320 42,442,389 45,567,083 3,654,391 201,020 21,407,505 113,917,708 100.0%% Total 0.57% 37.26% 40.00% 3.21% 0.18% 18.79% 100.00%

New Investment Round (in US$) CalculationPre-money equity valuation 12,000,000 Conversion Bridge (yes / no) yes ABC Co. Investment 1,500,000 Conversion Note (yes / no) no New investment 6,500,000 Price per Share 0.176 Repayment Bridge - Goal Seek - Post-money equity valuation 20,000,000

ParametersNOSH Series A ABC Co. before 10,124,417

Shares and Options Pre 6,625,000 NOSH before new UnallocatedShares from Conversion Bridge 5,375,000 Options are issued 16,327,736 Newly Issued Unallocated OptionsShares from Conversion Note - Existing Options 3,556,528 New Shares from ABC Co. Investment 1,500,000 Value Bridge 4,300,000 Existing Unallocated 97,863 New Shares from Investment Round 6,500,000 Value Note 1,500,000 New Allocated 21,407,505

20,000,000 Total Options 25,061,896 NOSH Post Disc. Conversion Bridge 20% % NOSH 22.00%

Shares and Options Pre 37,735,241 Disc. Conversion Note 0% Test 22.00%Shares from Conversion Bridge 30,615,384 Shares from Conversion Note - Bridge NoteNew Shares from ABC Co. Investment 8,543,828 Value 4,300,000 Value - New Shares from Investment Round 37,023,255 Disc. Price per Ord Share 0.14 Disc. Price per Ord Share 0.18

Total NOSH Post 113,917,708 Preferred Shares 30,615,384 Common Shares -

Assumptions:

Go to "Tools" - "Goal Seek". "Set cell" G25 "to Value of" 0 :by changing cell" G24. This allows the calculation of the share

price based on the new investment parameters.