1. Which statement is incorrect? Angel investors typically do not invest in seed stage companies Angel investors typically do not use convertible preferred equity Angel investors typically avoid using securities that value the firm Angel investors are typically high net worth individuals 2. Defaulting on a promissory note to an angel investor typically triggers personal bankruptcy and can even be a legal offense in some states. True False Uncertain 3. SAFEs typically earn accrued interest, which can go unpaid but affects the value of the security at conversion. True False Uncertain