Cash up front wasn't important to me. I was looking more for the longer term investment: work, take the note and convert it to equity at a low dollar/share, and hope they get bought out. I guess I feel fairness would be double the equity that was originally to be given, whether thats with a change to the firs note, or the creation of a second note. Problem is they don't seem to be willing to compromise and allowing me to convert my note at a lower rate than $2/share, since 3.5 months ago shares were $0.74. I just find it hard to believe the company is worth $2M. I've asked to meet in the middle at $1.37/share, but not sure that'll fly either. And if it doesn't, it seems my efforts are futile. Even if they 2X my note to $15K, thats MINIMAL in comparison to the big picture of things for them; or at least it should be.
I can only get cash if there's another round of investment, which there may/may not be, correct?
Trust me, lessons have been learned here. I'm trying to figure out my options now.
Cash up front wasn't important to me. I was looking more for the longer term investment: work, take the note and convert it to equity at a low dollar/share, and hope they get bought out. I guess I feel fairness would be double the equity that was originally to be given, whether thats with a change to the firs note, or the creation of a second note. Problem is they don't seem to be willing to compromise and allowing me to convert my note at a lower rate than $2/share, since 3.5 months ago shares were $0.74. I just find it hard to believe the company is worth $2M. I've asked to meet in the middle at $1.37/share, but not sure that'll fly either. And if it doesn't, it seems my efforts are futile. Even if they 2X my note to $15K, thats MINIMAL in comparison to the big picture of things for them; or at least it should be.
I can only get cash if there's another round of investment, which there may/may not be, correct?
Trust me, lessons have been learned here. I'm trying to figure out my options now.