We had gone back to the till.

Fair enough.

We'll go to seed venture capitalists, and we're going to do our Series A round of funding.

Which just means our first kind of professional venture capital round of funding.

The amount of money you get.

And just so you know, the A is because it's our first real formal round of financing.

So our old balance sheet let me draw all of the shares

Investment

Now, who are they accountable to?

Malibu Equity and Investments.

Well their intention was to take these home equity loans and put that money to work, invest it in some way.

He valued what we already had at 5 million dollars.

They're valuing these assets at 1 million.

Investing in professional development is not a cost.

As investors flee

Investing.

Malibu Equity and Investments. Roger Van Zant.

And this is the important thing.

This is the total actual value.

And I'll show you why that matters in a second.

Big investors.

Investment in what?

We are now faced with these questions to answer.

Did you know that 40 percent of the wealth created in Africa is not invested here in Africa?

(Laughter) Here's some advice from one of the largest investors in the United States.

But he said you know Nempo...

Peter Thiel just made an angel investment of half a million dollars.

We said before any of this stuff on the top existed, the pre money valuation of just our idea was 5 million.

Let me put that.

Just Manic Enough.

Consider it a capital investment.

I want investment.

I ran to my computer to send it to the IMF official.

By the way before we go forward, this is one point I want to mention.

EBlT in this case would be the operating profit plus this investment income.

And each round is kind of, every time you have to go back to the till to raise money, that's kind of a round of financing.

If there are investors willing to finance

And then, what's the state of affairs in our city now?

And we allow entrepreneurs to share a percentage of their revenues.

If what we had before is worth 5 million and there were a million shares initially, then the pre money valuation

And of course the pre money valuation is just you just take the pre money valuation plus the amount of cash they're giving us.

I just took the total NAV and I divided it by the shares.

So you can imagine, this is the actual amount of cash that

Now how does that work out?

On the equity side of the equation we just have four million shares.