[sjg007]

Question: If you are a share holder (e.g. you've converted say 1 option to stock. Do you not get access to the outside appraisals?

[ChuckMcM]

Not generally. There are two things at work here, one is the 409a valuation which is somewhat formulaic and then there is the valuation of preferred shares which have different rights than common stock. Typically you have to own a preferred share to get rights to information about outside appraisals.

[sjg007]

Can a common shareholder or anyone get a description of the preferred share holder rights? Is it in the articles of incorporation?