Call with Michael Otis. Avoid a time base expiration. Product/feature based. Or by a metric. Number of users/monthly revenue. We know what we will be worth as a company, so we are comfortable with them converting at $16M. “Can we pose a metric that would closely correlate with the $16M valuation”. Leave it open ended. By the time we are raising that round, we will have up to $1M committed. We are defining a sure thing for them based on what we should be worth at the time they need to trigger the extra $1M. Imagine if we never raised another round. Worth $3B, and they get 6%. Is there a timeline on this? I have to do what’s in the best interest of the company, I hope you understand. ===. We recognize your neck and career on the line and appreciate you seeing our vision, investing in us, and leading up on the path to global domination. That being said, these are investor-favored terms, and believe a little more upfront risk and lower bar to obligation are in order. Hey Andreas - Monday works great, thanks for following up. Before you send it over we have a couple more questions. We understand the risk you are taking and appreciate you see the value investing in us/our vision early on. Would it be possible to get the initial investment from TBV to $300k so we can close our round sooner and get back to focusing on growth ASAP? Secondly, can we set the expiration for the $1M follow-on at $2.5M in total capital raised? We expect to raise $2M (+$1M from TBV) in our next round at a $20 - $25M valuation. TBV will still be getting a 20% discount (at least) on our next round and we will not be shackled by the option beyond what we expect our financing needs for our next round will be.