POST SERIES A CAPTABLE EXERCISE Round Medium Shareholder Capital Num of Shares Share % Share Price Founder 4,800,000 Jill S4,800 XX% common Jack S3,200 Founder 3,200,000 common Blackbox SAFE $2,500,000 Seed Seed SAFE $2,500,000 Opaque Blackbox prefered prefered $1,000,000 Series Cormorant $4,000,000 Series Series A 2,000,000 Provident prefered $2,000,000 Stock Option Stock Option Total Shares Outstanding ESOP 2,000,000 100.00% $15,000,000 PRE-MONEY VALUATION SERIES A SHARE PRICE POST-MONEY VALUATION Multiple Post Series A Value MISC xoooo.xoox e) 1000x SAFE; S2.5M @ 20% discount of Series A share price (converted to Seris A shares) SAFE; $2.5M @$10M Valuation Cap (converted to Series A shares) Series A $1M New investor New investor Assuming it is fully vested and exercised TOTAL