Cap Table Customer Developer Seed Capital 
Feld Thoughts
JULY 14, 2015
The feedback is “come back when you’ve made more progress with customers.” But instead of adding it on to the note or doing an equity round with a price, which could still be an early stage price but below the cap, they make the argument that since the company couldn’t raise a round, the company is worthless.
Feld Thoughts
AUGUST 12, 2011
Anytime the financial model indicates that SayAhh will run out of cash, determine how you will raise capital to ensure liquidity and be sure to properly account for the debt or equity transaction on the balance sheet and Cap Table. Tie each round of funding to a set of key milestones in the development of your product/business.
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